MHCLG issued a press release on 9 April announcing 16 new commitments for local audit reform following its open consultation, including simplifying financial reporting requirements and increasing capacity to avoid reliance on a small number of auditors. The reforms are backed by £49 million to help bodies clear their backlogs and restore audit assurance. The […]
The FRC has published its Strategy for 2025-28 and its Annual Business Plan and Budget for 2025-26. This is the first three-year strategy delivered by the regulator since 2023.
MHCLG has today published two lists in relation to compliance with the 13 December 2024 backstop. The list includes bodies yet to publish all audited accounts for financial years up to and including 2022/23 as of 19 February 2025, and bodies that had not published one or more audited accounts by 13 December 2024 but […]
CIPFA has issued its new Advisory Note Five: Statement of Responsibilities. The advisory notes offer guidance for local government Chief Finance Officers to declare their annual accounts are true and fair.
On 12 February the local audit system leadership responsibilities transferred from the FRC back to MHCLG. This transfer follows the launch in December 2024 of the Government’s strategy for overhauling the local audit system in England, including a commitment to establish a Local Audit Office.
CIPFA LASAAC has issued its annual consultation on the 2025/26 Code of Practice on Local Authority Accounting in the UK (the Code). This will apply to accounting periods starting on or after 1 April 2025. The deadline for responses is 14 February 2025.
The NAO has issued an Overview of the Ministry of Housing, Communities & Local Government (MHCLG) 2023/24 as part of their series of overviews for the new Parliament.
The FRC has published emerging findings on its study into the audit market for NHS providers and Integrated Care Boards. The study found that while most stakeholders considered the market to be functioning, there were issues raised which could risk future resilience. Similar to local government audits, some respondents raised concerns regarding potential constraints on […]
CIPFA has issued a guide for audit committee members that explains the local audit backstop arrangements in England. It covers key terms, dates, roles and responsibilities.
Many local bodies will receive modified or disclaimed audit opinions as a result of the government’s measures to tackle the backlog of local audits in England. The government has provided information which explains the context for these modified or disclaimed audit opinions, and to help ensure that local bodies are not unfairly judged. The policy […]