PSAA has today published the findings of its second survey of audited bodies’ feedback on their audits, covering the 2019/2020 accounts.
The survey results provide feedback as to how auditors have managed their relationships with audited bodies. The effectiveness of relationship management is one of the measures that we use to monitor the quality of audit services provided.
Auditors undertook the 2019/20 audits during a very difficult time for all concerned. The systemic issues that triggered Sir Tony Redmond’s Review continued and were compounded by the pandemic. Auditors needed to perform additional audit procedures because of the resulting uncertainties, and to work remotely. These difficulties contributed further to the ongoing problem of timeliness of local government audit completion in England
The survey results reflected this situation, and respondents also expressed their concerns about the wider local audit regime. Responses highlighted the local impact of delayed audit opinions, the shortage of auditor resources, the level of scale fee variations, and the extent of the audit work now required on property and pension valuations.
Steve Freer, PSAA Chair said: “We commissioned the LGA’s Research Team to work independently of us, and they have conducted the survey and analysis, and have obtained views from finance directors and audit committee chairs.
We will continue to raise bodies’ concerns with the key stakeholders as decisions are made on the future of the local audit system.”
PSAA Quality of Audit Services 2019/20 survey.