Issue - meetings
Future Provision of External Audit from 2023/24
Meeting: 21/02/2022 - Council (Item 10)
Report of the Cabinet Member Finance
The Cabinet Member Finance and Assets introduced the report, noting that Public Sector Audit Appointments Limited (PSAA) were responsible for the national scheme to appoint auditors and set fees for local government and police bodies. PSAA oversaw all issues around compliance and the independence of the audit firm for local authorities that opted into the scheme. He emphasised that it would deliver better value for money for the council than going out to secure its own auditor.
The first national scheme covered the audit of statement of accounts from 2018/19 to 2021/22, while the second national scheme would run from 1st April 2023. The Audit, Compliance and Governance had discussed this when it met in January and had been happy to approve it, but the final decision on whether to opt in again was for Council.
One Member added that as a member of the Audit, Compliance and Governance committee, they had shared the opinion of officers that the collective scheme offered value for money. The Mayor agreed with this as a previous Chair of the committee.