As the backlog of incomplete local audits continues to grow, Public Sector Audit Appointments Chair calls for “extraordinary intervention” to get the system back on track.
A Levelling Up, Housing and Communities Committee report urges the government to fix the crisis in local audit.
Alison Ring, ICAEW Director Public Sector and Taxation, says we must take a once-in-a-generation opportunity to fix long-standing underlying problems with the way local government financial statements are used.
Former National Audit Office chief to chair new body to understand and support local government performance in England.
Improving the quality of public audit. Becoming a registered local auditor. Assurance for grant-paying bodies.
ICAEW sets out its vision for local audit, making the case for better financial reporting, high quality and more timely audits, stronger financial management and governance, and a thriving profession that is highly valued.
Public sector bodies may produce financial statements under the same accounting standards as their private sector counterparts, but there are some key differences. In addition, each of the UK's four nations has its own approach to audit. This hub highlights the important variations all auditors need to be aware of.
ICAEW is responsible for the licensing, registering and monitoring of auditors who wish to carry out audits of local public bodies. This page explains what accountancy firms and individuals need to do to become a registered local auditor under the Local Audit and Accountability Act 2014.
15 September: Should the current going concern audit requirements be relaxed for entities unlikely to disappear? A presumption some public sector bodies are a going concern could free up resources to audit areas that add more value.
9 September 2020: Sir Tony Redmond’s long-awaited report on local authority financial reporting and external audit in England has made a number of robust recommendations, including the creation of a new audit regulator.
28 August: The Redmond review on local government audit is expected to report on 8 September, but who are the interested parties and what are their concerns?
3 July 2020: ICAEW's Public Sector Community has established a new Public Sector Advisory Group (PSAG), which held its first meeting.
Reports and Analysis
ICAEW engages with the Fabian Society and their pamphlet ‘Prizing the Public Pound’ on local audit and spending effectiveness in central government, in which they call for a future Labour government to reorganise, revitalise and expand public audit in England.
This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014.
Trust and confidence in public spending can only be enhanced by building a framework of accountability, transparency, governance and ethics. This publication explores the issues that local public bodies in England are facing in the current economic climate.
Restoring trust in public finances - the value of audit insight (joint ICAEW-PwC series on sustainable public finances - EU perspectives).