2024/25 annual report and accounts
The 2024/25 annual report and accounts cover PSAA’s tenth full year of operation. Since 2018 local government external audit has been affected by regulatory reforms, capacity issues and increased complexity. In 2024 the Government introduced statutory backstop dates for audit years up to 2027/28 and a comprehensive reform strategy for the local audit system. This strategy included transferring PSAA’s responsibilities to a new body, the Local Audit Office. This is a significant starting point on a long and important journey to overhaul local audit.
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 company’s auditor, MHA Audit Services LLP, issued an unqualified opinion on 11 December 2025.
The 2024/25 Audit Committee Annual Report was approved by the Audit Committee on 30 October 2025.