The General Practitioners Committee (GPC) in Wales is disappointed with the Wales Audit Office's negative review of new general medical contracts.
They say the report "paints a false impression" that the new contracts offer no benefits for patients.
Initial income and expenses ratios have not taken account of changes in superannuation arrangements, they say, and the report lacks QOF understanding.
David Bailey, chairman of GPC Wales, said: "This review should have been an opportunity to celebrate the proven achievements of GPs in Wales in improving services to patients."
British Medical Association GPC Deputy Chair Kay Saunders agrees, saying: "This will not help the falling morale within general practice, the real resources drop as the workload increases."
David Bailey concludes: "GPC Wales therefore will not associate itself with the report as we feel our advice though sought, has not been heeded."
Related story: Call for better management of GPs' contracts in Wales