Veritau’s Annual Report 2024-2025

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Veritau’s Annual Report 2024-2025

15 September 2025

We’re pleased to share with you Veritau’s Annual Report for the year 2024-2025.

In his introduction, our Chief Executive summarises the report:

This has been a year of significant change. We successfully completed a restructure which has resulted in the business being split into two parts. A new Teckal company called Veritau Public Sector Limited (VPS) has been established to provide services to our member councils. Veritau Limited is now the commercial arm of the business providing services to our other clients. VPS is a ‘not for profit’ company limited by guarantee, and it started trading on 1 August 2024. Veritau Tees Valley also provided services in 2024/25 although the company is expected to cease trading in the next few months. The restructure was intended to ensure the business remained Teckal compliant and to allow new member councils to join more easily.

The results for all three companies have been amalgamated for the purposes of this report. In future, we expect to show the results for VPS and Veritau Limited separately.

In addition to the restructure, we welcomed two new member councils, Leicester City Council and Cherwell District Council. We also continued to attract new clients with Bradford Children and Families Trust, schools, charities and sports governing bodies signing up for services during the year. Ad-hoc work was also requested by a number of other clients. Client satisfaction and retention rates have remained high.

Investment in new systems and technologies has continued. New case management systems went live in our internal audit and information governance services, and we implemented new redaction software to support our information access team. This ongoing investment helps provide a good foundation to support future growth across all our services. We also retained our Good Business Charter and Cyber Essentials accreditations and signed up to the Armed Forces Covenant.

Service Developments and Achievements:

Service developments and achievements during the year have included:

achieving high levels of savings from counter fraud work. Cashable savings for all clients totalled £723k whilst the total value of fraud and error detected was £935k
processing 1,500 potential fraud referrals and completing 533 investigations during the year
representing our member councils at meetings with the Public Sector Fraud Authority and government representatives
producing a report and toolkit on behalf of the national Fighting Fraud and Corruption Locally (FFCL) group. The purpose of the toolkit is to support local authorities to raise awareness of and tackle adult social care fraud. The report and toolkit were presented at national and regional events
progressing the full implementation of the new Global Internal Audit Standards which came into effect on 1 April 2025. This has included reviewing our audit procedures and practices, updating our audit manual and relevant audit charters, and communicating the changes to clients
refreshing and relaunching our internal audit strategy which sets out the areas we will prioritise for development over the next three years
launching a new ‘focus week’ approach for academy schools and trusts which aims to reduce audit cycles for our smaller clients. Feedback since the launch has been positive and we have already seen improvements in the achievement of key audit milestones
completing the implementation of new redaction software and a new case management system for the Information Governance Service
signing up to the Armed Forces Covenant
retaining our Cyber Essentials and Good Business Charter (GBC) accreditations