APB issues guide for local government auditors
Local government auditors have received advice from the Auditing Practices Board in the form of a bulletin which provides guidance on reporting responsibilities.
Local government auditors have received advice from the Auditing Practices Board in the form of a bulletin which provides guidance on reporting responsibilities.
Link: Ethics body warned on corporate finance
Bulleting 2004/2, entitled Corporate Governance: Requirements of Public Sector Auditors, provides guidance on auditors’ review and reporting duties in relation to corporate governance disclosures as well as specific guidance to auditors of local government bodies that publish a statement on internal control (SIC).
The requirement to produce a SIC applies only to local government bodies in England.
Richard Fleck, APB chairman said: ‘Requirements for local government bodies in England to issue statements on internal control are new. I am delighted that APB has been able to issue guidance to auditors on such a timely basis and am grateful to the Audit Commission for their help.’
The numbers you crunch tell a story. Your expertis...
20yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleThe Bank of England has appointed Ernst and Young LLP (EY) as its external auditor from the financial year ending 28 February 2025. Read More...
View articleThis follows an investigation into undisclosed personal loans and issues with an acquisition. Despite challenges, the company aims to achieve £1bn in ...
View articlePwC's decision to delay promotions in its graduate scheme, affecting around 100 graduates, is a response to reduced client demand and the aftermath of...
View articleTraditionally, audit schedules have been prepared manually, consuming significant time and resources. However, with the advancements in Artificial Int...
View articleThe FRC is promoting initiatives to foster a more competitive market, following recent high-profile accounting scandals. Read More...
View articleOn January 27, it was reported EY had quit as auditor to Asda amid one of its senior partners starting a romantic relationship with billionaire chief ...
View articleDespite the increased interest in AI and ML, only 12% of respondents indicate their organisations have adopted AI and ML within their audit functions....
View articleAs the government's independent investigation progresses, it is hoped that a clearer picture will emerge, leading to meaningful reforms within the aud...
View article