PSAA publishes an annual report of its activities, together with its audited accounts, after the end of each financial year. The annual report outlines PSAA’s main activities and performance during the previous financial year and sets out in summary form its forward plans.
2019/20 annual report and accounts
The 2019/20 annual report and accounts cover PSAA’s fifth full year of operation. Following the successful implementation of the new local audit model and the delivery of the first audits undertaken under the new regime in respect of the 2018/19 financial year, the company’s focus in 2019/20 has been on maximising the effectiveness of the new arrangements. The 2019/20 financial year has been both challenging and turbulent for all parties involved in the local audit market, including PSAA.
The financial statements have been prepared in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) and the Companies Act 2006, under the provisions of the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 (SI 2008/410).
The 2019/20 audit committee annual report was approved by the audit committee on 10 June 2020.
The company’s auditor, UHY Hacker Young LLP, issued an unqualified opinion on 24 July 2020.