NEW ENTRANTS WILL be encouraged to bid for local government audit work, Audit Commission bosses say.
According to chief executive Eugene Sullivan, the process by which more than £180m of public sector audit work will be up for grabs, following the scrapping of the Audit Commission, should be more competitive.
Speaking to Public Finance, Sullivan said only time would tell if new entrants would come forward in the formal bidding, but interest levels were “high” and the right environment for competition had been created.
The 70% of local audits currently undertaken by the commission will be made available in three- or five-year contracts.
UK senior partner Phil Verity has been elected for a second term at Mazars
An audit partner has been appointed at Grant Thornton in its North West offices
KPMG has been appointed with “immediate” effect as the auditor of Dorcaster
The audit for Ibstock will be taken over by Deloitte following a competitive tender process