Audit does matter
The purpose of audit is to provide an independent opinion on the truth and fairness of the financial statements, whether they have been properly prepared and to report on certain other requirements. In relation to local audit the auditor has a number of distinctive duties including assessing the arrangements in place to deliver value for money, and dealing with electors’ objections and issuing public interest reports.
Good quality independent audit is one of the cornerstones of public accountability. It gives assurance that taxpayers’ money has been well managed and properly expended. It helps to inspire trust and confidence in the organisations and people responsible for managing public money.
“The LGA set up PSAA to provide a way for councils to meet the legislative requirements of audit procurement without unnecessary bureaucracy and to provide leverage for councils by collaborating in a difficult market. It is now more important than ever that councils work together to ensure we get what we need from the audit market.”
James Jamieson. Chairman of the Local Government Association