PSAA has published its Contract Monitoring Data Pack: Quarter 4 for 2023/24. We produce quarterly reports on our contracted firms, building up information as the year progresses. The data pack covers audit opinions, approved fee variations and electors’ objections as of 31 March 2024. The timeliness of audit delivery remains a matter of major concern […]
The Procurement Bill, which will reform the existing Procurement Rules, received Royal Assent last year. You can view the new Procurement Act on the UK legislation website. The Procurement Act will come into effect on Monday 28 October 2024. The Government has published a series of guidance documents to cover all aspects of the Procurement Act […]
We have published updates to our auditor appointment directories following our April updates from our audit suppliers: You can also visit our pages that list all directories for 2018/19 to 2022/23 and 2023/24 to 2027/28.
On 9 January 2024 new Global Internal Audit Standards were issued, which will become effective from 9 January 2025. They will replace the International Professional Practice Framework, the mandatory elements of which are the basis for the current UK public sector internal auditing standards. The UK Public Sector Internal Audit Standard Advisory Board (IASAB) issued […]
This edition of our quarterly e-bulletin includes news of our new Chair, our response to consultations to address the audit backlog, an update relating to fee variation proposals for the revised ISA 315, and a summary of local audit news from elsewhere. We hope that you continue to find our e-bulletin to be useful. We […]
The updated ISA 315 applies to all audited bodies from 2022/23 audits onwards, however the impact for each body type is expected to be variable. The significant changes in ISA 315 result in additional audit requirements that auditors must deliver to meet the Code of Audit Practice. When we published the 2023/24 scale fees in […]
Our revised contractual mechanics were set in 2022 to encourage all firms to complete and deliver audits on as timely a basis as possible. When we developed them the Auditor’s Annual Report (AAR) was expected to be the final piece of the annual audit jigsaw (unless there was a change in auditor between 2022/23 and […]
On 25 March the FRC published its plan and budget for 2024/25.
At the beginning of February 2024, DLUHC and the NAO launched consultations on proposals with the aim of restoring timely, high-quality financial reporting and audit. PSAA has:
CIPFA recently launched its consultation on short term England-only measures in the Code of Practice on Local Authority Accounting. The proposals are to aid the recovery of local authority reporting and audit as set out in a Joint Statement from DLUHC and other system partners issued in February 2024. The consultation closes at 11pm on […]