We recently welcomed the opportunity to work with Public Finance magazine to discuss the quest for sustainability in local audit, and how the future of the audit industry requires a collective system wide effort.
Extract from “The quest for local government audit sustainability”
Opening the public sector audit market to new entrants will require a collective, system-wide effort says Julie Schofield, senior manager of business and procurement at local authority audit body Public Sector Audit Appointments.
The current issues faced by local audit are well documented and discussed, most recently by the Public Accounts Committee.
What is less clear is how to solve them, including the need to achieve long-term audit market sustainability that will help to address the supply challenges.
PSAA knows that our next audit services procurement cannot on its own solve all of those problems, but our aim is to help by securing additional audit capacity of the right quality at a fair price for our local government clients.