PSAA has today announced that 470 (99%) out of 475 eligible bodies have joined its national scheme for local auditor appointments for the next appointing period, which will cover the audits for financial years 2023/24 to 2027/28. A full list of the opted-in bodies is available.
PSAA invited all eligible bodies to join the scheme on 22 September 2021, with a deadline of 11 March 2022 for responses. This outcome is an even higher proportion than the 98% acceptance level for the current scheme which covers the audits for financial years 2018/19 to 2022/23.
Steve Freer, PSAA Chair said: “The conclusion of the opt-in process marks another key milestone in our preparations for the next appointing period. We are very pleased that the vast majority of eligible local bodies have once again decided to put their faith in PSAA’s scheme. In our view it makes particular sense for the sector to work together in a co-ordinated, collaborative scheme at a time when the local audit market is facing unprecedented challenges and risks affecting the supply of audit services and the delivery of timely audit opinions.
A great deal of care was taken to develop and refine PSAA’s offer to local bodies, outlined in our Prospectus. Similarly, our Procurement Strategy, shaped by market research and engagement, aims to attract the widest possible interest from both existing and aspiring registered local audit suppliers. The formal procurement process is already underway with the objective of enabling all auditor appointments to be in place by 31 December 2022.”