PracticeConsultingPublic audit fees ‘too low’.

Public audit fees 'too low'.

More large accountancy firms may withdraw from work for the Audit Commission because the fees are too low, according to CIPFA’s chief executive designate Stephen Freer. Speaking at a Commons select committee meeting, Freer said despite Ernst & Young withdrawing from public sector work for the commission, other firms were likely to see advantages in the sector, especially the ‘high prestige’. Matthew Warburton, head of strategy at the Local Government Association, also giving evidence, said there was growing concern among local authorities that ‘there is too much audit and whether there will be too much audit and inspection under Best Value.’

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