"The BBC must be conscious always that it is funded by public money. As the custodians of this public money, the Governors have a duty to monitor the BBC's financial controls. 
"The Governors are reassured that this review by Ernst & Young has found the BBC's overall system of financial controls to be fundamentally sound. 
"As part of our new governance arrangements, the Governors are committed to strengthening our methods for monitoring the BBC's financial performance and this will include commissioning ad hoc reviews of this type." 
Mark Thompson, Director-General, said: "Ernst & Young's recommendations are timely. BBC management is committed to delivering the best value for licence fee payers and I, along with all my Executive colleagues, will ensure we continue to improve the BBC's performance."