This week we held our first market engagement webinar with potential suppliers for our 2022 audit services procurement. We walked through and took questions on the procurement strategy outlining our current thinking on lot structure, bidding rules, the basis for bid pricing and the indicative timescales. We were delighted to welcome representatives from registered local […]
Delayed audit opinions continue to be a major concern in the local audit system. The growing scale of the challenge is illustrated by the latest figures compiled by PSAA. As at the target date of 30 September 2021 only 9% of local government bodies’ 2020/21 audits have been completed. The position compares to completion of […]
On 22 September 2021 PSAA invited all principal local government including police and fire bodies to become opted-in authorities. At the same time it published its procurement strategy and prospectus for the national scheme from April 2023. Both documents have evolved in response to the feedback provided by the market engagement exercise and consultation on […]
PSAA has responded to the DLUHC* consultation on the Local Audit Framework Local audit framework: technical consultation. It covered ‘proposals to implement the independent Redmond Review of local authority financial reporting and external audit.’ It builds on Department’s Spring Report Local authority financial reporting and external audit: Spring update. PSAA is committed to supporting the […]
PSAA has invited all principal local government including police and fire bodies to become opted-in authorities. In accordance with the Local Audit and Accountability Act 2014 and the Local Audit (Appointing Person) Regulations 2015 (the Regulations), PSAA has formally invited all eligible bodies to become opted-in authorities to the national auditor appointment arrangements for the […]
PSAA has today published the findings of its second survey of audited bodies’ feedback on their audits, covering the 2019/2020 accounts. The survey results provide feedback as to how auditors have managed their relationships with audited bodies. The effectiveness of relationship management is one of the measures that we use to monitor the quality of […]
PSAA has today published a report detailing responses to its recent consultation plans for the second appointing period for the national scheme for local auditor appointments. The two important consultations gathered feedback on proposals for the national scheme of local auditor appointments from 2023/4, consulting with eligible bodies and other stakeholders on the draft prospectus […]
We recently welcomed the opportunity to work with Public Finance magazine to discuss the quest for sustainability in local audit, and how the future of the audit industry requires a collective system wide effort. Extract from “The quest for local government audit sustainability” Opening the public sector audit market to new entrants will require a […]
Today we are publishing our 2020/21 audited statement of accounts. Our healthy financial position enables us to distribute a further £5.6 million of surplus funds to our opted-in eligible bodies. The revenue PSAA receives must cover the costs of auditors and our operating expenses. PSAA operates on a not-for-profit basis. If we have funds that […]
PSAA welcomes the PAC’s continued engagement with the issue of local auditor reporting in local government, leading to today’s very important report highlighting the precarious state of the sector’s audit system. The report acknowledges that PSAA has previously described the problems facing local audit as ‘serious and pervasive’, and we agree that those problems persist, […]