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 (or in-house provision), so we are wholly reliant on the market. We are calling for urgent change to move the local audit system to a more sustainable footing which may allow greater confidence and optimism as we approach the next procurement in five years’ time.
We have made public statements that the local audit market is failing, and we are actively calling for reform in response to the challenges that local audit is facing including: