What are the benefits of opting in to PSAA’s scheme?

The national scheme offers a range of benefits for its members:

  • transparent and independent auditor appointment via a third party;
  • the best opportunity to secure the appointment of a qualified, registered auditor;
  • appointment, if possible, of the same auditors to bodies involved in significant collaboration/joint working initiatives, if the parties believe that it will enhance efficiency and value for money;
  • on-going management of any independence issues which may arise;
  • access to a dedicated team with significant experience of working within the context of the relevant regulations to appoint auditors, managing contracts with audit firms, and setting and determining audit fees;
  • a value for money offer based on minimising PSAA costs and distribution of any surpluses to scheme members;
  • collective savings for the sector through undertaking one major procurement as opposed to a multiplicity of smaller procurements;
  • a sector-led collaborative scheme supported by an established advisory panel of sector representatives to help inform the design and operation of the scheme;
  • avoiding the necessity for local bodies to establish an auditor panel and undertake an auditor procurement, enabling time and resources to be deployed on other pressing priorities;
  • providing regular updates to Section 151 officers on a range of local audit related matters and our work, to inform and support effective auditor-audited body relationships; and
  • concerted efforts to develop a more sustainable local audit market.