Frequently Asked Questions

Why set a minimum price – surely it is for individual firms to determine the costs of the audit when they tender?

PSAA decided to introduce a minimum fee for some audits and this was referenced in our formal invitation to opt into the PSAA scheme, which was issued to all eligible bodies in late September 2021. Whilst the firms set the total amount due to auditors, PSAA determines the amount payable by individual bodies via the […]

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Will an auditor be able to provide my authority with non-audit consultancy services?

The independence requirements for all auditors in the local public audit regime are the same, whether locally appointed or part of the appointing person regime. These requirements are specified by the Financial Reporting Council in the Ethical Standard and applied to local public audit as determined by the NAO. The services that an auditor can […]

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Will the quality assessment be shared with Local Authorities on appointment of the Auditors, as what they say and what we receive is very often different and this causes delays?

Our current arrangements for measuring the quality of the delivery of audit services are published. Our approach to tender evaluation for the 2022 audit services procurement seeks to reflect those areas which opted-in bodies tell us are important to them. We sought input from the FRC in developing our approach. The themes and their weightings are […]

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Will timeliness of audit be one of the quality evaluation criteria?

Our current arrangements for measuring the quality of the delivery of audit services are published. Our approach to tender evaluation for the 2022 audit services procurement seeks to reflect those areas which opted-in bodies tell us are important to them. We sought input from the FRC in developing our approach. The themes and their weightings are […]

Read more on Will timeliness of audit be one of the quality evaluation criteria?