We have adjusted some KPIs within the audit services contract and the first payment milestone to reflect the government’s decision to introduce backstop dates for the delivery of audit opinions, as part of its solution to restore timely audit delivery. We have also added a new KPI relating to the production of the draft Annual Auditors Report to align with the new Code of Audit Practice.
The list of KPIs and payment milestones for 2024/25 audits are set out below.
| KPI | Details for 2024/25 audits | KPI measure |
| KPI_01 | Draft audit plans produced by 30 April 2025 | 100% of audits (where the 2023/24 audit opinion was given by the backstop date) |
| KPI_02 | 50% planned hours delivered by 30 September 2025 | 90% of audits (where the 2023/24 audit opinion was given by the backstop date) |
| KPI_03 | 75% planned hours delivered by 31 October 2025 | 90% of audits (where the 2023/24 audit opinion was given by the backstop date) |
| KPI_04 | 100% planned hours delivered by 31 January 2026 | 90% of audits (where the 2023/24 audit opinion was given by the backstop date) |
| KPI_05 | Where any opinion is unable to be given by the backstop date for whatever reason, written communication with the Audited Body takes place | 100% of audits (to reflect the introduction of a backstop date that removes the publishing date) |
| KPI_06 | Management of objections as per the Code of Audit Practice | 100% of audits |
| KPI_07 | Production of draft Auditors Annual Report by 30 November | 100% of audits |
| Payment milestone | For 2024/25 audits |
| 1st milestone | Paid on either prior year draft Auditors Annual Report or Opinion issued, but not before 1 December |
| 2nd milestone | Paid on issue of the Draft Audit Plan |
| 3rd milestone | Paid on 50% planned hours delivered |
| 4th milestone | Paid on 75% planned hours delivered |