PSAA has published the fee scale for the audit of the 2018/19 accounts of opted-in principal local government and police bodies.
Following consultation, PSAA has set the 2018/19 fee scale on the basis that individual scale audit fees for all opted-in bodies have been reduced by 23 per cent from the fees applicable for 2017/18. This gives opted-in bodies the benefit of the cost savings achieved in the recent audit procurement, and continues the practice of averaging firms’ costs so that all bodies benefit from the same proportionate savings, irrespective of the firm appointed to a particular audited body. It also passes on the benefit of economies which PSAA is making in its own operating costs.
The 2018/19 fee scale document below sets out the scale of fees for the audit work to be undertaken by appointed auditors in respect of the 2018/19 financial statements at relevant principal authorities that have opted into PSAA’s national auditor appointment arrangements:
2018/19 scale of fees for opted-in bodies
A summary of responses to the 2018/19 consultation is also available.
Auditors will undertake their work under the requirements of the Code of Audit Practice and supporting guidance published by the National Audit Office on behalf of the Comptroller and Auditor General, the financial reporting requirements set out in the Code of Practice on Local Authority Accounting published by CIPFA/LASAAC, and the professional standards applicable to auditors’ work.
Audit appointments and scale fees for individual audited bodies are available here: 2018-19 directory of auditors and scale fees for opted in bodies (excel file)