MHCLG has recently confirmed that PSAA will continue in its role as Appointing Person. As a result, later this year we will issue invitations to all eligible local bodies to join our national auditor appointment scheme for the next appointing period commencing in April 2023. Early next year we will also lead a new audit services procurement in respect of the next appointing period which is currently proposed to span five financial years to March 2028.
Ahead of the formal opt-in invitation and procurement stages, we are today launching two critically important consultation processes to gather intelligence from local bodies, audit firms and other local audit stakeholders. Our draft prospectus will provide an opportunity for audited bodies in particular to help guide and influence the development of PSAA’s national scheme over the next period. In parallel a market engagement process will enable existing and prospective suppliers to provide views and feedback in relation to a variety of aspects of our planned procurement.
Tony Crawley, Chief Executive of PSAA said:
‘Local audit plays an important role in providing assurance to taxpayers that their money has been well managed and properly expended, but it faces many challenges. The next procurement and appointing period provide an opportunity to help to tackle the instability and uncertainty which has blighted local audit (and audit more generally) over recent years, and to contribute to the delivery of a much more stable and sustainable system. We cannot overstate the importance of the consultations which we are launching today which will help PSAA to get the best from the local audit market and to ensure that the needs of the sector and its constituent bodies are met.’
Both the consultation with eligible bodies and market engagement exercise will close on Thursday 8 July 2021. The subsequent opt-in invitation period is expected to launch in September 2021 and run through to January 2022. The procurement is scheduled to commence in February 2022.
For further information visit: the dedicated area on our website.