Amendments to local audit fee setting arrangements
The consultation seeks views on proposals to give the appointing person for principal bodies more flexibility on audit fee arrangement.
In the government response to the Redmond Review, ministers committed to take swift action to support market stability, and to review and reform regulations to provide the appointing person with greater flexibility to ensure the costs to audit firms of additional work are met.
This consultation seeks views on proposed changes to the Local Audit (Appointing Person) regulations 2015 that will give effect to the proposals based on Redmond’s recommendation, and provide the appointing person for principal bodies (Public Sector Audit Appointments Ltd) with greater flexibility on audit fee setting and fee variations.