Levelling-Up Committee begins local audit inquiry
On Monday 15 May, the Levelling Up, Housing and Communities (LUHC) Committee holds the first evidence session of its inquiry into financial reporting and audit in local authorities.
Meeting details
The LUHC Committee will question Sir Tony Redmond, author of the Redmond Review, Neil Harris, Director of Local Audit, Financial Reporting Council (FRC), Sarah Rapson, Deputy CEO and Executive Director of Supervision, FRC, and a panel of academics and experts.
Ahead of the evidence session on Monday, the LUHC Committee has today published 24 written evidence submissions (see full list of submissions) received from a range of individuals and also stakeholders, including the Chartered Institute of Public Finance and Accountancy (CIPFA), Local Government Association, Institute of Chartered Accountants in England and Wales (ICAEW), People’s Audit, and Ernst & Young LLP and also several local authorities.
The written evidence submissions cover a range of issues concerning the users and uses of local authority accounts and audit, the understandability and accessibility of local authority accounts and audit, addressing findings in audits and making local authority accounts meet the needs of users better.
In Monday’s evidence session, the cross-party group of MPs will question witnesses on topics relating to the purpose and understanding of local audit and the impact of local authority accounts and audit findings.
The session is also like to explore the role of audit in local accountability and democracy and the extent to which accounts provide a clear picture of the financial sustainability and resilience of a local authority.
MPs will also examine the views of witnesses on whether there is a crisis in audit in England’s councils and on the future role of the Auditing, Reporting and Governance Authority (ARGA), which will replace the FRC.
The full inquiry terms of reference are available here.