The updated ISA 315 applies to all audited bodies from 2022/23 audits onwards, however the impact for each body type is expected to be variable. The significant changes in ISA 315 result in additional audit requirements that auditors must deliver to meet the Code of Audit Practice. When we published the 2023/24 scale fees in […]
Our revised contractual mechanics were set in 2022 to encourage all firms to complete and deliver audits on as timely a basis as possible. When we developed them the Auditor’s Annual Report (AAR) was expected to be the final piece of the annual audit jigsaw (unless there was a change in auditor between 2022/23 and […]
At the beginning of February 2024, DLUHC and the NAO launched consultations on proposals with the aim of restoring timely, high-quality financial reporting and audit. PSAA has:
We are pleased to announce the appointment of our new Chair, Bill Butler, who will take up the role from 1 April 2024. The LGA has issued the following press release detailing the announcement. On behalf of the PSAA Board and staff, we sincerely thank Steve Freer, our outgoing Chair, for his immense contribution and […]
We are pleased to present our Annual Quality Monitoring Report for 2023. Given the issues related to the local audit and reporting backlog, our report covers the work of local auditors appointed by PSAA for the 2021/22 and 2022/23 financial years and provides relevant related information. We provide information from our quality monitoring arrangements on […]
Our next Local Audit Quality Forum event will take place on 28 February from 11.30am to 1pm. This webinar is aimed at s151 Officers and Audit Committee (and equivalent) Chairs. As the deadline approaches for the DLUHC and NAO consultations on proposals to tackle the backlog in local audit and reporting, this webinar will provide […]
In May 2023 we appointed independent consultants Touchstone Renard to review our work to develop the national auditor appointment scheme for the audits from 2023/24, with a specific focus to: We have published Touchstone Renard’s final report and a standalone Executive Summary. The report makes recommendations for PSAA including some relating to the next procurement, […]
All local audit system partners including PSAA have a shared resolve to address the significant numbers of delayed audit opinions. Today, alongside the publication of a new Joint Statement, DLUHC and the NAO launched consultations on proposals with the aim of restoring timely, high-quality financial reporting and audit. The consultations will close on 7 March […]
PSAA has published its Contract Monitoring Data Pack: Quarter 3 for 2023/24. We produce quarterly reports on our contracted firms, building up information as the year progresses. The data pack covers audit opinions, approved fee variations and electors’ objections as of 31 December 2023. The audit backlog is at an unacceptable level. This quarter a […]
PSAA has published the 2023/24 audit fee scale following consultation. Information on the fee scale and consultation can be found on our website. The 2023/24 fee scale is the first in the five-year appointing period specified by PSAA covering 2023/24 to 2027/28. We awarded new contracts for this period in 2022 to six audit firms, […]