New research has found only 9% of local authority 2020-21 audits were completed by the statutory deadline of 30 September 2021, highlighting the crisis in the local audit market.
ICAEW’s submission to government on the next stages of local audit reform highlights the importance of improving local authority financial reporting and getting the right regulatory arrangements in place.
ICAEW has issued a response to the Fabian pamphlet: ‘Prizing the Public Pound’ on local audit in England and spending effectiveness in central government.
Public Accounts Committee calls for urgent government action to address capacity and quality concerns in the local government audit market in England.
Improving the quality of public audit. Becoming a registered local auditor. Assurance for grant-paying bodies.
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.
29 June 2020: The National Audit Office (NAO) has issued guidance to help audit and risk committee members examine the impact of the COVID-19 outbreak on government organisations.
17 June 2020: Treasury writes stern ‘Dear Accounting Officer’ letter instructing departments to stop delaying compliance with PAC recommendations.
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.
Guidance to assist accountants when asked to provide reports on grant claims, reflecting good practice principles for grant-paying bodies and grant recipients.
Independent review into the arrangements in place to support the transparency and quality of local authority financial reporting and external audit in England.