The evaluation ratio of 80% quality and 20% price for an audit services procurement is consistent with other recently let public sector audit procurement contracts. It differs from our approach to the 2017 procurement as our market intelligence was that firms would not engage with bodies that did not value audit and used ratios of […]
Public Sector Audit Appointments Limited (PSAA) has been specified as an appointing person under the Local Audit and Accountability Act 2014 and the Local Audit (Appointing Person) Regulations 2015. It has had the power to make auditor appointments for audits of the accounts from 2018/19 onwards on behalf of eligible principal local government bodies that […]
Local authority group accounts are part of the accounts produced under the CIPFA Code of Practice on Local Authority Accounting and are subject to audit in line with the NAO Code of Audit Practice. They continue to be part of the statutory audit for which PSAA makes an auditor appointment for opted-in bodies. Local authority […]
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. […]
The requirement for joint committees to produce statutory accounts ceased after production of the 2014/15 accounts and they are therefore not listed in Schedule 2 of the Local Audit and Accountability Act 2014. Joint committees that have opted to produce accounts voluntarily and obtain non-statutory assurance on them need to make their own local audit […]
The procurement of audit services for opted-in bodies is a key component of the appointing person arrangements. Ahead of each audit services procurement PSAA develops and publishes a procurement strategy that is shaped by market conditions and the views of eligible bodies and local audit stakeholders. Details of PSAA’s previous audit procurements are published on […]
Below are some of the key differences in the approach for the procurement of audit services completed in 2022 compared to the 2017 procurement. Feedback on the proposed approach was sought from all eligible bodies, and current and prospective suppliers during June 2021. We expressed a preference to enter into new long-term contracts at the […]
We continue to work closely with a range of local audit stakeholders including DLUHC, the FRC, the NAO, CIPFA, ICAEW and the LGA to help identify and develop further initiatives to strengthen the local audit. Our e-bulletins provide details of recent developments. We know that there is a long way to go before something approaching a […]
A newly established eligible body has the right to opt in by giving notice to PSAA. An eligible body who was invited to join but declined only has the right to request to become an opted-in authority. The notice must confirm the body’s decision to opt in, and must specify the body’s postal address. The […]
Opting into the appointing person scheme removes the need for a body to set up an independent Auditor Panel. The detailed requirements for this are set out in the Local Audit and Accountability Act 2014 and the Local Audit (Appointing Person) Regulations 2015.