Responding to COVID-19: insight, support and guidance
In response to MHCLG's recent update on the Redmond Review regarding a systems leader for local audit, CIPFA CEO Rob Whiteman said: "CIPFA welcomes the announcement that the Audit, Reporting and Governance Authority (ARGA) will be the new systems leader for local audit. We’re pleased to see ARGA bring together regulatory functions, the Code of Audit Practice, reporting on local audit functions, and performance monitoring and review.
"Our concerns around audit supply and market instability remain. It is vital that any changes to the local audit system focus on these issues and emphasise the need for high quality audits in the short and longer term.
"Local authority accounts are vital to transparency and accountability. As with the rest of the public sector and the private sector ensuring that useful information in accounts is accessible to users is becoming increasingly difficult, the statement of accounts is often described as long and complex. CIPFA supports the Redmond Review recommendation for a summary statement that is able to communicate key messages to its council tax payers, service users and other key stakeholders."
Notes to editor:
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.