Public Sector Audit Appointments Limited (PSAA) has published its Audit Contract Monitoring Report (ACMR) and the findings of its client survey for the 2023/24 audits. These are the first reports under the second appointing period contracts.
The ACMR outlines PSAA’s approach to monitoring the delivery of audit services across three key areas: adherence to professional standards, contractual compliance and effective relationship management. The report summarises the results of our monitoring activities and reflects the implementation of statutory backstop dates alongside the evolving local audit reform strategy.
PSAA surveys opted-in bodies as part of our contract monitoring arrangements to seek views from Directors of Finance and Audit Committee Chairs on their audit delivery experience. The survey findings indicate an overall improvement in audit service delivery meeting expectations compared to previous years, and a call to address local audit issues while ensuring audits deliver value for money.
PSAA remains committed to supporting a sustainable and high-quality local audit system, including the establishment of a Local Audit Office, to streamline oversight, improve audit quality and enhance transparency. The reports reflect our commitment to collaboration and transparency with all stakeholders in local audit.