We are pleased to present our Audit Quality Monitoring Report covering the work of local auditors appointed by PSAA for audits from 2018/19 to 2022/23, including those audits completed by 13 December 2024 backstop date. This is the final report under the first appointing period contracts. This report is shorter than in previous years as […]
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.
We have recently published the number of audit opinions delivered up to 28 February 2025 on our website. Please note we have introduced data for Pension Fund audits across all years for completeness. As 28 February 2025 was also the backstop date for the 2023/24 audits, we issued a press release earlier today on the […]
Auditors have reported issuing 224 disclaimed or qualified opinions due to the backstop of 28 February 2025 for the 2023/24 audits of accounts covered by PSAA’s appointing person scheme. There were 7 modified opinions that auditors have not attributed to the backstop, including 2 disclaimed opinions. There are a further 48 opinions that remain outstanding. […]
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.
We have published updates to our auditor appointment directories following our January updates from our audit suppliers: You can also visit our pages that list all directories for 2018/19 to 2022/23 and 2023/24 to 2027/28.
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.
We wrote to all firms on 18 December 2024 to explain our approach to audit fees for issuing a disclaimed audit opinion arising from the Government’s backlog solution, as we expected to receive their proposals from January 2025 onwards for this work. Our research showed that the firms’ approaches to the work to produce a […]
PSAA has published its Contract Monitoring Data Pack: Quarter 3 for 2024/25. We produce quarterly reports on our contracted firms, building up information as the year progresses. The data pack covers audit opinions, approved fee variations and electors’ objections up to 31 December 2024. 69 audit opinions are outstanding for audits up to 2022/23, which […]