The local audit framework, the respective roles of the different players, e.g. the FRC, the NAO, ICAEW, CIPFA, DLUHC and PSAA, and the nature of public audit means that any contract for the delivery of a code-compliant local audit will be different to a normal services contract. PSAA (or local bodies) cannot specify the audit […]
We have called for co-ordination of audit deadlines by government departments, but these deadlines are set by DHSC and DLUHC respectively.
For both the 2017 and 2022 procurements, the quality evaluation of tender responses was independently observed by the LGA having put in place assurance to guarantee commercial confidentiality in the process.
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 reflected those areas which opted-in bodies told us are important to them. We sought input from the FRC in developing our approach. The themes and their weightings are as […]
Technical audit quality is a measure for the FRC as regulator. The Ethical Standard precludes contracts that contain fees that vary according to a pre-determined measure (for example specifying a date by which an audit opinion must be given). We monitor the quality of audit services using a package of measures. We work with firms […]
There are numerous very significant hurdles to creating a public sector auditor and addressing them is not in PSAA’s gift. There are only nine firms in England registered to undertake local audit and three of these firms did not bid. Unlike other parts of the UK, in England there is no auditor of last resort […]
In 2020 PSAA commissioned independent research from Touchstone Renard to review the sustainability of the local government audit market. During the summer of 2021 we considered the feedback provided by the market and confirmed our approach to support the drive towards a more sustainable market for local public audit services. We summarised the outcome of the […]
Issues with the timeliness of audit opinion delivery are caused by a variety of factors. In common with all stakeholders in the local audit system, we want to see the earliest possible return to a position in which virtually all local bodies can publish their audited accounts by the target date specified in the Accounts […]
Once appointed, auditors are independent and the decisions that they take are down to their professional judgements. There may be differences in judgement between years by individuals from the same firm as views change or where more evidence becomes available.
The mechanism for allocating the costs of individual firm bids is the scale fee, which allocates the total costs of all firms’ tenders and PSAA total costs (approximately 2%) in a proportionate way across all bodies. The scale fee does not vary in relation to which firm is appointed as auditor. Contingencies are not built […]