PracticePeople In PracticeMet in audit ‘experiment’

Met in audit 'experiment'

New audit arrangements for the Metropolitan Police, involving KPMG and District Audit in a joint effort, could create a new model for future financial reports and represents an 'experimental' approach for auditing part of the new London Authority, reports Accountancy Age.

This will be only the second time that two auditors have been appointed to a single public body and will be watched very closely for its results to judge whether the arrangements will be applicable elsewhere.

Andrew Foster, head of the Audit Commission, indicated nearly a year ago that the new London Authority, currently under the leadership of Ken Livingstone, would present an opportunity to experiment with audit deals.

Under the deal for the Metropolitan Police, District Audit will be the official auditor while KPMG will ‘assist’. Their duties will be split with DA ‘focusing on performance management’ while the Big Five firm audits the accounts.

Martin Evans, director of audit policy at the Commission, said: ‘From the point of view of the Met it will appear as if they are dealing with one team.

‘We will be keeping an eye on the arrangements to see if we can learn from them and to see if we can use them in other contexts.’

The only other audit double act works with Leeds City Council where ‘historically’ District Audit has worked with RSM Robson Rhodes.

Audit Commission

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