Frequently Asked Questions

Are you planning to set global fee variations that will be applied to all contracts when there is a change from the regulator on what audit coverage is required?

We are hoping that the changes to the scale fee setting arrangements proposed by MHCLG in its consultation will reduce the need for fee variations, and it is possible that ‘global’ changes will be dealt with through consultation.  In theory the scale fee should cover the costs of delivery of a Code of Practice Audit, […]

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Auditing is not just about legislation but about completing a set of accounts for our public – we don’t want to let them down by publishing a year later

As you might expect PSAA recognises and shares your disappointment and frustration at the prospect of a delayed 2020/21 audit process, adding to the existing backlog. We are very conscious of the adverse effects which flow from delayed audit opinions. They disrupt related work plans; they raise uncertainties in relation to the organisation’s financial position; […]

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Can an opted-in body opt out at a later date?

No, acceptance of PSAA’s invitation to opt in means that the body is opted in for the duration of the compulsory appointing period (five years from either 2018/19 or 2023/24 respectively). The only exception is where the body ceases to exist or the body ceases to fall within the classes of authorities for which PSAA […]

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Do the appointing person arrangements cover the audit of an authority’s pension fund where it is the administrative body responsible for preparing the pension fund accounts?

Pension funds are not separate legal entities from their administering local authority for audit, and are therefore not listed as relevant authorities in schedule 2 of the Local Audit and Accountability Act 2014. The auditor appointment to an opted-in local authority includes the audit of the pension fund where the authority is the administering body. […]

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