PracticeConsulting‘Radical’ parish audit overhaul.

'Radical' parish audit overhaul.

The audit arrangements for parish councils have been officially declared ‘unsustainable’ and reform proposals, including creating a monopoly in the supply of audit services, have been put forward, writes Gavin Hinks. Options for a ‘radical overhaul’ of audit for the smallest local authorities have been published in an Audit Commission paper, which attempts to spark a debate. Proposals include exempting small councils from audit as part of a so-called ‘lighter touch’ regime which would also involve the use of ‘less rigorous forms of scrutiny’. Another option is raising fee levels to allow auditors to provide a better service. Martin Evans, director of audit policy at the Commission, said: ‘Local councils, as well as the Audit Commission and its auditors now consider the present audit regime is unsustainable. ‘The aim of this paper is to stimulate a debate on the changes necessary to improve the audit process for both local councils and auditors alike.’ www.audit-commission.gov.uk.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer