Influencing policy to support you: August 2024
Parliament may be in recess, but ICAEW remains busy preparing for the launch of new legislation on audit reform, the Budget and the political party conference season.
Read the latest insights on audit & assurance in the public sector from ICAEW, including the latest on the Redmond Review on the future of local audit. Find out about ICAEW’s role in licensing, registering and monitoring local auditors - and how to register. Download ICAEW’s technical framework for reporting on grant claims and get help from ICAEW in commissioning independent reports on recipient eligibility.
Parliament may be in recess, but ICAEW remains busy preparing for the launch of new legislation on audit reform, the Budget and the political party conference season.
The Auditor General for Wales is “concerned” as councils found to provide limited information to help senior leaders understand service users’ views and outcomes.
With a clear mandate to govern, Sir Keir Starmer’s Labour party must take swift action to encourage growth and investment, says ICAEW.
ICAEW and CIPFA are calling for papers describing ways in which local government accounts can be better used to improve accountability and effectiveness.
Proposed backstop date of 30 September 2024 would force auditors to qualify or disclaim local authority financial statements if councils cannot resolve accounting issues in time.
The Levelling Up, Housing and Communities Committee has delivered a landmark report that will transform local authority financial statements, says ICAEW’s Alison Ring.
Department keeps under review or rejects several recommendations made by the Levelling Up, Housing and Communities Committee inquiry into financial reporting and audit in English local authorities.
Alison Ring, ICAEW Director Public Sector and Taxation, says we must take a once-in-a-generation opportunity to fix long-standing underlying problems with the way local government financial statements are used.
ICAEW sets out its vision for local audit, making the case for better financial reporting, high quality and more timely audits, stronger financial management and governance, and a thriving profession that is highly valued.
ICAEW is responsible for the licensing, registering and monitoring of auditors who wish to carry out audits of local public bodies. This page explains what accountancy firms and individuals need to do to become a registered local auditor under the Local Audit and Accountability Act 2014.
Public sector bodies may produce financial statements under the same accounting standards as their private sector counterparts, but there are some key differences. In addition, each of the UK's four nations has its own approach to audit. This hub highlights the important variations all auditors need to be aware of.
The former PwC partner and now Jersey’s Comptroller and Auditor General on why tackling the local audit crisis hinges on audit firm leaders valuing the public sector audit discipline better.
ICAEW engages with the Fabian Society and their pamphlet ‘Prizing the Public Pound’ on local audit and spending effectiveness in central government, in which they call for a future Labour government to reorganise, revitalise and expand public audit in England.
This special report has been written to support local public bodies when they are in the process of tendering for external audit services under the Local Audit and Accountability Act 2014.
Trust and confidence in public spending can only be enhanced by building a framework of accountability, transparency, governance and ethics. This publication explores the issues that local public bodies in England are facing in the current economic climate.
Restoring trust in public finances - the value of audit insight (joint ICAEW-PwC series on sustainable public finances - EU perspectives).