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Local audit reforms don’t go far enough in preventing private sector chaos
The government risks missing a key opportunity to fix the local audit crisis, leaving the whole country in the dark about council finances.The government has unveiled the plans to fix the local audit crisis with a new body, the Local Audit Office (LAO). Action can’t come soon enough. Last year only 4% of local councils submitted audited accounts on time for 2023/24, even lower than the 10% last year that prompted the National Audit office to take the unprecedented step to disclaim the Whole Government Accounts, essentially a refusal to sign off the accounts as correct. This year, that step... [continues]