Draft Local Audit Bill
- Department for Communitites and Local Government (DCLG)
- TSO (The Stationery Office)
'Draft Local Audit Bill' sets out the Government's vision for the future of local audit. It has been designed to implement the Government's commitment to disband the Audit Commission and re-focus audit on helping local people hold their councils and other local public bodies to account for their spending decisions.
The aim of this new draft bill is to develop a locally focused audit regime, but one still retaining a high quality of audit of local government spending.
The Government views the current audit arrangements for local public bodies as inefficient and unnecessarily centralised, creating a system of weak cost incentives and becoming too focused on reporting to central Government, rather than the local people.
The new audit framework will also allow bodies to appoint their own auditors from an open and competitive market.
The Bill also gives new responsibilities to:
the Financial Reporting Council - to act as the overall regulator for auditors;
the National Audit Office - to set the code of audit practice; and
the professional audit bodies - to have a role in regulating and monitoring audits.
|Format||Paperback||Published||06 Jul 2012|
|Availability||Black and white copy, 1-3 days||Delivery||Delivery options and charges|
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