The new financial regulator for foundation hospitals has promised to check the books of all self-governing trusts before they are granted autonomy in April next year.

British Retail Consortium chief Bill Moyes was appointed as the new watchdog on Thursday and pledged he would get straight to work in January when he takes up the post.

Moyes will have just three months to approve the finances of the flagship NHS hospitals before allowing them to take charge of their own affairs.

The government has made foundation hospitals, which will have freedom from Whitehall, a key plank of its health service reforms.

Health secretary John Reid has put forward 25 trusts to form the first wave of foundation hospitals in April next year.

But Moyes has insisted that they will not be allowed to take up the self-governing status if their finances are not in order.

Ahead of his official appointment he said he would give "a quick check" to the books of each of the 25 trusts.

"I hope we can do that," he said. "I can understand it would be very disappointing for the trusts if April came and went and nothing happened."

The post of regulator, who will act independently of the Department of Health, has been created to provide public scrutiny of the hospital's spending and investment decisions when they are freed from central government control.

Announcing his appointment Reid said Moyes had "excellent credentials" for the role.

"The establishment of NHS foundation trusts will be an important step forward in delivering the strategy for reform of the NHS set out in the NHS Plan," he said.

"Setting up the Office of the Regulator and authorising the first wave of NHS foundation trusts is a crucial part of implementing the policy."