The FRC provided an update on how they will support the local audit system following the government’s local audit reform announcement last year.
The FRC will not perform routine inspections of local government major local audits (MLAs) for audits up to 31 March 2025, unless there is a clear case in the public interest to do so. This will allow staff and partners at audit firms to focus on rebuilding assurance by completing as much outstanding work as possible. They will still perform six inspections of NHS MLAs for these audits.
They also state they will not issue a public report on their MLA inspection work this year as it would not be proportionate to their findings or the scope of their monitoring activities.