Market Engagement

During Autumn 2021 all eligible bodies will need to make important decisions about their external audit arrangements for the period commencing from the financial year 2023/24.

In relation to appointing auditors, eligible bodies have options to arrange their own procurement and make the appointment themselves or in conjunction with other bodies, or they can join and take advantage of the national collective scheme administered by PSAA.

On 23 November 2021 we held a market engagement webinar with potential suppliers. In the session we outlined our current thinking on the detail of our procurement strategy and answered questions. The slides from the November 2021 market engagement webinar with potential suppliers are available.

Further back in June 2021 we issued a draft prospectus and invited eligible bodies’ comments on our early thinking on the development of the national scheme for the next period. We also engaged with the market to seek the views of current and potential suppliers to help us shape important features of our procurement strategy for our procurement of audit services from April 2023.

Feedback from the sector and the market has been extremely helpful and has enabled us to refine our proposals which are now set out in the scheme prospectus and our procurement strategy. Both documents contain information that you may find helpful.