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ICAEW worried local audit reform won t get focus
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Slough Council bankruptcy shows consequences of delays
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Fraud in COVID-19 support schemes could reach billions
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Grant Thornton recently issued statutory recommendations to Slough Council after finding that: the finance team had insufficient skills or capacity to produce financial statements or working papers of a reasonable quality; reserves had fallen to an unsustainably low level; and, the council had inadequate governance arrangements over subsidiary and joint venture companies.
Section 24 of the Local Audit and Accountability Act gives local authority auditors the power to issue written recommendations, which must be published and considered at a public meeting within one month from the date of issue. Slough Council held its public meeting on 18 May and has accepted the recommendations.