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.
2020/21 annual report and accounts
The 2020/21 annual report and accounts cover PSAA’s sixth full year of operation. Following the successful implementation of the new local audit model, 2020/21 was the second year of the current appointing period during which PSAA was responsible for audits carried out in 478 opted-in bodies (98% of eligible bodies). The 2020/21 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 2020/21 audit committee annual report was approved by the audit committee on 14 June 2021.
The company’s auditor, UHY Hacker Young LLP, issued an unqualified opinion on 9 August 2021.