A 25% increase in audit fee variation rates for 2020-2021 is being proposed by the Public Sector Audit Appointments, following recommendations from the Redmond Review.
Audit firms Mazars and Grant Thornton have been asked to implement quality action plans after the Financial Reporting Council was critical of audit quality.
Many of the recommendations in the Redmond Review can be carried out in the short-term without the need for new legislation, Sir Tony Redmond has told the PF Live conference.
The Treasury faces difficult trade-offs around time, cost and quality in producing the UK government’s accounts, says Helen Jackson, audit manager at the National Audit Office.
A proposed additional statement on local authority accounts outlined in the Redmond Review could lead to additional work and extra costs for councils, Sir Tony Redmond said.
Sir Tony Redmond’s recently published review ticks most – if not all - the boxes needed to improve local authority audit, says Diana Melville, CIPFA’s governance adviser.
There is “no comparison” between the proposed new oversight body to take charge of local authority audit, and the defunct Audit Commission, according to Sir Tony Redmond.
The Redmond Review, published today, has recommended the creation of a new local authority audit oversight body and a review of the current fee structure.
Moray Council risks depleting its entire fund reserves in just four years as it attempts to offset annual deficits, the Scottish Accounts Commission has warned.
Former CIPFA president Tony Redmond will discuss his independent review into local authority audit and scrutiny at the annual Public Finance Live Conference in October, which is going online for the...
Nottingham City Council’s strategic director of finance raised concerns over the quality of information provided by a standalone energy company which has made £34.4m of losses, according to auditors.
Delayed local government audits are to blame for the Treasury’s slow production of the Whole of Government Accounts, according to the National Audit Office.
The National Audit Office is to investigate the government’s implementation of Covid-19-related employment initiatives, including how it is mitigating the risk of fraud.
The Centre for Public Scrutiny and CIPFA have released a new guide for local authorities in England to support effective financial scrutiny following the Covid-19 pandemic.
The National Audit Office has published new guidance to help audit and risk committees advise their organisations on financial management and reporting during the coronavirus pandemic.
Although it is barely a year since auditor general Gareth Davies took up his role, Covid-19 has relegated that period to another age and reshaped his priorities for the watchdog’s activities.
Measures put in place by the government to help reduce the impact of the coronavirus pandemic have cost £124.3bn, according to the National Audit Office.
The Police Service of Northern Ireland has seen a real-term budget decrease of 20% over the past decade – equivalent to £200m – according to a report from the Northern Ireland Audit Office.
The government has written to local authorities to confirm an extension to the deadline for statutory audit, due to the increased disruption caused by coronavirus.