PSAA is developing an updated corporate plan during 2017/18, recognising its new responsibilities following specification by the Secretary of State for Communities and Local Government an appointing person.
PSAA published its Corporate Plan 2015-2018 before it was specified as an appointing person. The Plan sets out how PSAA will discharge the functions it was established to deliver, which are to manage audit contracts originally let by the Audit Commission and to support a smooth transition to the new audit regime introduced by the Local Audit and Accountability Act 2014. PSAA is staffed by a number of ex-Audit Commission staff who have a good understanding of the issues that need to be addressed during this time of change.
For NHS bodies and smaller local authorities (mainly parishes and internal drainage boards) the new regime applies to the audits of the financial year 2017/18 and onwards, so the transitional arrangements operated by PSAA cover the audits up to and including 2016/17. For principal government and police bodies the transitional arrangements apply for one additional year, meaning the new regime will apply to the audits of the financial year 2018/19 and onwards.
PSAA is committed to being financially responsible and will redistribute surplus monies, including money received on the closure of the Audit Commission, to the bodies subject to audit.