Public sector audit work improves for 2011/12

by Richard Crump

More from this author

14 Dec 2012

  • Comments
Financial report

THE STANDARD of auditors' work at local public bodies improved during the last financial year, the Audit Commission has said.

The Audit Commission's Auditing the Accounts 2011/12 report found there have been improvements in the standard of financial reporting at councils, fire and rescue authorities, police bodies, other local government bodies, parish councils and internal drainage boards.

Of the 472 principal bodies covered by the report, 426 had published their 2011/12 accounts by 30 September as required. However, the Audit Commission raised concerns about Birmingham City Council, England's largest council, where the auditor has not yet been able to issue an opinion on the 2011/12 accounts.

The report also found that most audited bodies received an unqualified audit opinion on their accounts.

Paul Mason, assistant director for professional services at CIPFA, welcomed the report's conclusions that there have been improvements in the performance of financial reporting.

"This is particularly encouraging as this is only the second year of financial reporting under IFRS for local authorities. They should feel justly proud of this achievement," Mason said.

Bodies also significantly improved the timeliness of the information provided to inform Whole of Government Accounts (WGA).

Auditors aimed to issue the assurance statement on the WGA return by 5 October 2012. They were able to do so at 345 councils (97%), all fire and rescue authorities, 36 police bodies (95%) and all other local government bodies. In 2010/11, auditors at only 74% of principal bodies were able to issue their assurance report by the specified submission date.

"The need for timely and accurate submission to the Whole of Government Accounts process is extremely important, particularly as the government strives to increase efficiency savings and transparency in public sector funding," Mason said.

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Appointments to University Committees

University of Glasgow 120x60University of Glasgow - Glasgow - unremunerated positions

 

 

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.