On 17 July, Minister Rowley attended the latest LUHC Select Committee hearing for its inquiry into Financial Reporting and Audit in Local Authorities. The Committee has published the letter that the Minister sent in advance committees.parliament.uk/publications/40932/documents/199432/default/, which includes the latest position on proposals to address the significant backlog of local government audits in England. The letter […]
The Local Audit Liaison Committee met on 3 May and on 27 June. DLUHC will publish minutes for these meetings in the coming weeks. In the meantime the minutes for past meetings are available to view.
On 17 May CIPFA published supplementary guidance covering the impact of triennial valuation statements received for IAS19 Employee Benefits Reporting for financial statements for 2021-22 and earlier years, where opinions on those statements have yet to be issued – CIPFA Bulletin 14 Supplement | CIPFA.
On 31 May CIPFA issued a statement on the statutory financial reporting deadline for local government.
The NAO published a supplementary guidance note for auditors on 18 May – Considering the impact of the Local Government Pension Scheme 2022 Triennial Valuation. This is in relation to the pension valuation issue.
On 16 May the NAO issued the following guidance for audit committees – Quality assurance of models: a guide for audit committees..
On 24 April CIPFA published a major report on sustainability reporting in the public sector providing guidance, best practice and advice to help public sector bodies prepare sustainability reports – Public sector sustainability reporting: time to step it up.
On 23 June the Public Accounts Committee published a report on the Timeliness of local auditor reporting. The Committee asked DLUHC to explain how it is tackling the longstanding problems facing the sector.
PSAA welcomes the FRC’s revised guidance for recognising Key Audit Partners (KAPs) for local audit. This has established more flexible routes for Responsible Individuals to become KAPs and is a step towards addressing the market’s resources issue.
This week, we were really pleased to see an article from Rob Whiteman, CEO of CIPFA, recommending that eligible bodies opt in to our national scheme for auditor appointments, alongside talking about the recently announced measures to improve the vital issue of timeliness of local audit. Rob stresses the benefits of opting in to bring […]