CIPFA issues statement on financial reporting deadline
On 31 May CIPFA issued a statement on the statutory financial reporting deadline for local government.
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Read more of: CIPFA issues statement on financial reporting deadline
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NAO publishes guidance note for auditors on pension valuation issue
Read more of: NAO publishes guidance note for auditors on pension valuation issueThe NAO published a supplementary guidance note for auditors on 18 May – Considering the impact of the Local Government Pension Scheme 2022 Triennial Valuation. This is in relation to the pension valuation issue.
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The NAO issues guidance to Audit Committees on quality assurance of models
Read more of: The NAO issues guidance to Audit Committees on quality assurance of modelsOn 16 May the NAO issued the following guidance for audit committees – Quality assurance of models: a guide for audit committees..
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CIPFA publishes report on sustainability reporting in the public sector
Read more of: CIPFA publishes report on sustainability reporting in the public sectorOn 24 April CIPFA published a major report on sustainability reporting in the public sector providing guidance, best practice and advice to help public sector bodies prepare sustainability reports – Public sector sustainability reporting: time to step it up.
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Timeliness of local auditor reporting
Read more of: Timeliness of local auditor reportingOn 23 June the Public Accounts Committee published a report on the Timeliness of local auditor reporting. The Committee asked DLUHC to explain how it is tackling the longstanding problems facing the sector.
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FRC issues revised guidance for recognising Key Audit Partners
Read more of: FRC issues revised guidance for recognising Key Audit PartnersPSAA welcomes the FRC’s revised guidance for recognising Key Audit Partners (KAPs) for local audit. This has established more flexible routes for Responsible Individuals to become KAPs and is a step towards addressing the market’s resources issue.
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CIPFA recommends “opt in” to PSAA’s scheme and collective working across the sector
Read more of: CIPFA recommends “opt in” to PSAA’s scheme and collective working across the sectorThis week, we were really pleased to see an article from Rob Whiteman, CEO of CIPFA, recommending that eligible bodies opt in to our national scheme for auditor appointments, alongside talking about the recently announced measures to improve the vital issue of timeliness of local audit. Rob stresses the benefits of opting in to bring […]
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DLUHC publishes its package of measures to help address the delays in audit opinions
Read more of: DLUHC publishes its package of measures to help address the delays in audit opinionsPSAA welcomes DLUHC’s package of measures, which recognises that there is no easy or quick solution to the current challenges, and that there needs to be a whole system approach to making progress. The document helpfully sets out measures that are being evaluated as well as those that are being taken.
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ICAEW offers to help audit firms that may be interested in opportunities in the local government audit market
Read more of: ICAEW offers to help audit firms that may be interested in opportunities in the local government audit marketPSAA is keen to attract new audit suppliers including those looking to work alongside firms that are more experienced in this market. Very helpfully, ICAEW is offering to assist firms to make contact with each other with a view to exploring possible collaboration options. ICAEW has provided a summary of its role in relation to […]