NAO consults on final stage of local audit code update
The National Audit Office (NAO) is seeking public feedback on proposed updates to its Code of Audit Practice, calling for greater focus on value for money in public bodies.
Key changes to the code, which sets out what auditors of local public bodies are required to do under the Local Audit and Accountability Act 2014, include a more detailed focus on value for money and clearer expectations on timely and effective auditor reporting.
The proposed changes will come into effect from April 2020.
Read more at the Accountancy Daily.