Recommendation 17

In September 2020, Sir Tony Redmond published his report Independent Review into the Oversight of Local Audit and the Transparency of Local Authority Financial Reporting (Redmond Review), noting that the local audit market is very fragile.33 He concluded that current local audit arrangements fail to deliver, in full, policy objectives underpinning the Local Audit and Accountability Act 2014, and reported an overriding concern that 25 Qq 22–24, 48 26 Qq 45–49 27 Qq 52–53 28 Qq 35, 50 29 Q 24; WGA 2018–19, p 16 30 Qq 17, 36–38 31 Public Accounts Committee, Twenty-sixth Report of Session 2016–17, Financial sustainability of local authorities, HC708, November 2016 32 Public Accounts Committee, Eleventh Report of Session 2019–21, Local authority investment in commercial property, HC 312, July 2020, paras 2, 7 33 Sir Tony Redmond, Independent Review into the Oversight, September 2020, page 1 12 Whole of Government Accounts 2018–19 there is a lack of coherence and public accountability within the existing system.34 Local Government statutory accounts are the only information provided by local authorities that are independently verified through external audit and so function as a key assurance mechanism for government.35 The Treasury stated it was working with MHCLG on the Redmond Review and were looking to published a co-ordinated response to the review by the end of 2020.36