Why set a minimum price – surely it is for individual firms to determine the costs of the audit when they tender?
If PSAA decides to introduce a minimum fee for some audits this will be referenced in our formal invitation to opt in to the PSAA scheme, which will be 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 […]Read more
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 […]Read more
For the 2017 procurement, the quality evaluation of tender responses was independently observed by the LGA. We will consider all options as we design our approach during Autumn 2021. We need to ensure that there is an assurance of commercial confidentiality in the process.Read more
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?
We will publish a summary of our approach to the quality assessment of tender responses once it has been agreed by the PSAA Board. Tender responses are confidential documents, however we will look to see if there is a way that we could appropriately share pertinent details.Read more
The webinar slides are available to download until the end of August 2021.Read more
There are many reasons that may impact the timely delivery of an audit opinion. Capacity is one of these and is likely to be an important quality criterion. We will publish a summary of our approach to the quality assessment of tender responses once it has been agreed by the PSAA Board.Read more