The inclusion of The Local Audit and Accountability Bill in this year’s Queen’s Speech represents a significant step towards a smooth transition to new public audit arrangements. Even as we move closer towards the Commission’s controlled closedown, our work continues to ensure cost effective local accountability and audit of public spending.
The Audit Commission has today announced that it will retender audit contracts worth £25.2 million a year. The contracts currently held by audit firms were initially awarded in 2006 and 2007 and extended in 2010.
Following consultation, the work programme and fee scales for the audit of the accounts for 2013/14 have been confirmed for local government, fire, police and health bodies.
The National Fraud Initiative (NFI), established in 1996, this week confirmed it has now helped identify over £1 billion potentially lost to fraud, overpayment or error, across the UK. The outcomes include the prevention and detection of 15,000 cases of pension overpayments worth £450 million and almost 100,000 cases of incorrect awarded council tax single person discounts, worth £160 million.
The partners of PKF (UK) LLP and BDO LLP have agreed a merger of the two firms, which will take effect on 28 March 2013. PKF currently has a contract with the Audit Commission to supply audit and related services until the end of the 2016/17 financial year in the Eastern and South East areas.