Page 2 - Oliver Simms News Today

CIPFA and ICAEW call for the full application of IFRS 9 to pooled investments as soon as possible to improve the transparency of reporting.

Delays in publishing the Whole of Government Accounts make it even more difficult for the government to have a clear understanding of the UK’s fiscal position as it embarks on major tax and spending changes that will reshape the public finances.

ICAEW’s response to the Public Audit Forum’s consultation calls for Practice Note 10 to provide guidance to ensure that public sector audit focuses on areas of operational risk for public sector bodies.

Responsibility of lenders and local authorities to combat the high levels of public money lost to fraudsters and recover COVID-19 grants obtained fraudulently, BEIS says.

The Public Audit Forum is consulting on a proposed amended version of Practice Note 10, which provides guidance to auditors of UK public sector bodies.

Starved of counter-fraud funding for a decade, local councils were left dangerously exposed to financial wrongdoing at the height of the pandemic, says new report.

ICAEW expresses disappointment at missed opportunity for reforms to Key Audit Partner eligibility guidance to enable broader access for audit firms to the NHS and local authority audit markets.

ICAEW’s response to a CIPFA LASAAC consultation has called for the local audit system leader to take a ‘whole system’ approach to resolve infrastructure reporting issues.

The Department for Health has £4bn of PPE in storage that will never be used, Public Accounts Committee report finds.

New guidance issued by CIPFA recommends that local authority and police audit committees include at least two independent members.