Alan Vallance, ICAEW Chief Executive, said:
“This backstop date is a vital part of restoring financial accountability to the local government sector in England.
“The use of backstops will reset the audits of financial statements and prevent further backlogs from happening in the future. It’s now down to local authorities and their auditors to work together to clear the backlog of incomplete audits, which will in turn help restore credibility.
“We’ll continue to work with our partners in the local audit system to address the underlying symptoms that led to these delays and implement longer-term reforms to ensure a backlog doesn’t build up again.”
Owen Mapley, CIPFA Chief Executive, said:
“Today is a vital first step towards restoring timely and effective public sector audit, setting key backstop dates for audits. This will provide the framework for tackling the backlog of accounts and ending the unacceptable delay in reporting. It is now urgent that public sector CFOs and their audit partners work together to clear the backlog. Local authorities can start by ensuring that all available accounts are published as quickly as possible.
"The Chartered Institute of Public Finance (CIPFA) is providing assistance to our members and looks forward to working with government and other system partners to create a better long-term solution for the future."
ENDS
Notes to editors:
The Statutory Instrument on local audit laid before Parliament today is available here.
CONTACT: ICAEW media office stephen.froome@icaew.com or 07970 402 073