PSAA has published the findings of its third survey of audited bodies’ feedback on their audits.
The results provide feedback on 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.
The survey results reflected the current local audit situation, and the widely held concerns that only 9% of 2020/21 audits were able to be completed by the 30 September publishing date and the impact on all concerned.
Tony Crawley (PSAA Chief Executive) said: ‘Finance directors and audit committee chairs have reiterated the concerns that we all share with the current position of local audit with only 9% of audits completed by the publishing date and over 40% still in that position today. We will continue to raise bodies’ concerns with the key stakeholders as further discussions take place about how the local audit system can be improved and strengthened.’