Source · Select Committees · Public Accounts Committee
Recommendation 14
14
MHCLG plans to simplify local authority financial reporting to resolve audit issues
Conclusion
The Treasury and MHCLG also described other measures that they think will resolve the local authority audit issues. Beyond the backstop and additional funding, MHCLG said it is working to simplify the financial reporting requirements for local authorities, as the current level of complexity is, in MHCLG’s view, a barrier to the local authority audit market working effectively. It expects simplified audit requirements to stimulate additional supply of auditors.29