In May 2023 we appointed independent consultants Touchstone Renard to review our work to develop the national auditor appointment scheme for the audits from 2023/24, with a specific focus to: We have published Touchstone Renard’s final report and a standalone Executive Summary. The report makes recommendations for PSAA including some relating to the next procurement, […]
All local audit system partners including PSAA have a shared resolve to address the significant numbers of delayed audit opinions. Today, alongside the publication of a new Joint Statement, DLUHC and the NAO launched consultations on proposals with the aim of restoring timely, high-quality financial reporting and audit. The consultations will close on 7 March […]
PSAA has published its Contract Monitoring Data Pack: Quarter 3 for 2023/24. We produce quarterly reports on our contracted firms, building up information as the year progresses. The data pack covers audit opinions, approved fee variations and electors’ objections as of 31 December 2023. The audit backlog is at an unacceptable level. This quarter a […]
The FRC has announced important revisions to the UK Corporate Governance Code to help enhance transparency and accountability. They have also issued supporting guidance notes.
Simon Hoare, Minister for Local Government, announced in a letter to Clive Betts, Chair of the Levelling Up, Housing and Communities Select Committee, the department’s intention to consult on proposals to set a backstop date of 30 September 2024. The backstop date will require local bodies to publish their audited financial accounts for all financial […]
The FRC has published an update to its Ethical Standard for auditors, effective from 15 December 2024. The update is a response to the FRC’s consultation that was carried out last year and closed on 31 October 2023.
PSAA has published the 2023/24 audit fee scale following consultation. Information on the fee scale and consultation can be found on our website. The 2023/24 fee scale is the first in the five-year appointing period specified by PSAA covering 2023/24 to 2027/28. We awarded new contracts for this period in 2022 to six audit firms, […]
PSAA has published its Contract Monitoring Data Pack: Quarter 2 for 2023/24. We produce quarterly reports on our contracted firms, building up information as the year progresses. The data pack covers audit opinions, approved fee variations and electors’ objections as of 30 September 2023. The audit backlog continues to be extremely concerning. Only 5 out […]
We have published updates to our auditor appointment directories following our October updates from our audit suppliers: You can also visit our page that lists all directories for 2018/19 to 2022/23.
This edition of our quarterly e-bulletin includes an update on the 2022/23 audit opinion delivery, news on our consultation on 2023/24 audit scale fees and a summary of local audit news from elsewhere. We hope that you continue to find our e-bulletin to be useful. We welcome your thoughts on future topics that you would […]