PracticePeople In PracticeTop twenty firm picked to audit London mayors’ activities

Top twenty firm picked to audit London mayors' activities

At least one top twenty firm has been told it will be involved in auditing the new Greater London Authority, Accountancy Age has learned.

The news comes as voters go to the polls and follows comments from the Audit Commission controller Andrew Foster that the new authority will be an ‘opportunity for experiments.’

A spokesman for the Commission confirmed that special audit arrangements were being made for the new authority saying they were ‘unique’ and that the commission would be ‘obliged to design an audit and inspection approach which reflects the unique structure and powers of the new bodies’.

The key challenge for audit structures will dealing with ‘inter-agency working’ which is expected to figure highly in the new authority.

‘We will need to build on our key strengths of independence, evidence based and public reporting and adapt to the unique circumstances in London,’ the spokesman said. ‘For example we will need to support the likely growth of interagency working and develop appropriate tools to support auditors and inspectors work in London.’

The authority will made up of five new bodies including the GLA itself, Transport for London, the London Development Agency and the London Fire and Emergency.

Not all the appointments for audit contracts have been made but at least private firm is believed to have been awarded a contract.

The commission is still going through a consultation process on audit arrangements and hopes to discuss them with the newly elected mayor and assembly before going public.

Special report: Which mayor will be best for business?

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