Stephen Sheen: clearing the local audit backlog
The government is now assessing feedback from a consultation on proposals to clear the backlog of local audits in England. Here, Stephen Sheen looks at some of the difficulties arising[…]
What's New?
March 18, 2024
March 15, 2024
March 14, 2024
The government is now assessing feedback from a consultation on proposals to clear the backlog of local audits in England. Here, Stephen Sheen looks at some of the difficulties arising[…]
The government has launched its much-anticipated consultation on the best way to clear the backlog in local authority audit and restore “timely and high-quality financial reporting”. Local authority professionals have[…]
The government has announced that it will “clearly set out” the purposes of local audit to ensure the long-term stability of the sector but has offered no update on the[…]
Prime minister Rishi Sunak is “deeply concerned” over Eastleigh Council’s potential fraud allegations and high level of debt. At Prime Minister’s Questions yesterday (24 January), Paul Holmes, the MP for[…]
The government will propose a compulsory deadline of 30 September for all outstanding local authority audited accounts in England. In July 2023, the Department for Levelling Up, Housing and Communities (DLUHC) announced[…]
The government is considering more flexibilities around the use of local authorities’ capital receipts to help councils meet general budget pressures. On the same day as the publication of the[…]
The Financial Reporting Council has opened an investigation into the conduct of one of its members at Thurrock Council concerning the financial management of the authority’s failed investment strategies. The[…]
As 2023 ends and 2024 begins, we look back on an eventful year in local government finance with a month-by-month guide to the biggest happenings. January The Department for Levelling[…]
A recent FRC report exposed serious faults in the audit process, but will a system reset help or hinder some of the more nuanced problems, asks Stephen Sheen, managing director[…]
The Financial Reporting Council (FRC) is hoping a series of market studies will generate information and proposals for improvement to help increase competition in the UK’s audit market for public[…]
The Financial Reporting Council (FRC) has been “severely restricted” in its ability to inspect higher profile and higher risk local government audits for its annual report because of the current[…]