FRC announces revisions to UK Corporate Governance Code
The FRC has announced important revisions to the UK Corporate Governance Code to help enhance transparency and accountability. They have also issued supporting guidance notes.
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Read more of: FRC announces revisions to UK Corporate Governance Code
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DLUHC to consult on proposals to set a local audit backstop date of 30 September 2024
Read more of: DLUHC to consult on proposals to set a local audit backstop date of 30 September 2024Simon Hoare, Minister for Local Government, announced in a letter to Clive Betts, Chair of the Levelling Up, Housing and Communities Select Committee, the department’s intention to consult on proposals to set a backstop date of 30 September 2024. The backstop date will require local bodies to publish their audited financial accounts for all financial […]
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FRC updates Ethical Standard for Auditors
Read more of: FRC updates Ethical Standard for AuditorsThe FRC has published an update to its Ethical Standard for auditors, effective from 15 December 2024. The update is a response to the FRC’s consultation that was carried out last year and closed on 31 October 2023.
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Publication of the 2023/24 fee scale
Read more of: Publication of the 2023/24 fee scalePSAA has published the 2023/24 audit fee scale following consultation. Information on the fee scale and consultation can be found on our website. The 2023/24 fee scale is the first in the five-year appointing period specified by PSAA covering 2023/24 to 2027/28. We awarded new contracts for this period in 2022 to six audit firms, […]
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Contract Monitoring Data Pack: Quarter 2 for 2023/24
Read more of: Contract Monitoring Data Pack: Quarter 2 for 2023/24PSAA has published its Contract Monitoring Data Pack: Quarter 2 for 2023/24. 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 as of 30 September 2023. The audit backlog continues to be extremely concerning. Only 5 out […]
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Latest update to auditor appointment directories
Read more of: Latest update to auditor appointment directoriesWe have published updates to our auditor appointment directories following our October updates from our audit suppliers: You can also visit our page that lists all directories for 2018/19 to 2022/23.
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October 2023 update
Read more of: October 2023 updateThis edition of our quarterly e-bulletin includes an update on the 2022/23 audit opinion delivery, news on our consultation on 2023/24 audit scale fees and a summary of local audit news from elsewhere. We hope that you continue to find our e-bulletin to be useful. We welcome your thoughts on future topics that you would […]
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PSAA announces the number of audit opinions completed for the 2022/23 audits
Read more of: PSAA announces the number of audit opinions completed for the 2022/23 auditsLocal government bodies are required to publish accounts with an auditor’s certificate or opinion by 30 September or to explain the reasons for non-publication. At the publishing date of 30 September 2023, only 5 out of 467 local government bodies’ 2022/23 audit opinions have been given. This adds to the 456 that are outstanding from […]
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Launch of DPS call-off competitions for local audit services
Read more of: Launch of DPS call-off competitions for local audit servicesToday we launched the following call-off competitions under our local audit DPS – with a tender return date of 17:00 on 19th October 2023: Call for competition: Lindsey Marsh Drainage Board (LMDB) (631349170-1) Call for competition: Hartlepool Development Corporation and Middlesbrough Development Corporation (HDC-MDC) (631349170-2) Only those suppliers already appointed to the DPS will receive […]
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Consultation on the 2023/24 scale of audit fees
Read more of: Consultation on the 2023/24 scale of audit feesWe are consulting on the proposed fee scale for 2023/24 audits. Information on the consultation and how to respond can be found on our website. We are holding a webinar on 26 September to support our consultation process. The aim of the webinar is to explain the different elements in the proposed fee scale for […]