This strategy commits to a series of measures to fix the broken local audit system, including:
A local audit vision with eight core principles.
The establishment of a statutory and independent Local Audit Office (LAO), with five strategic responsibilities - coordinating the system, contract management, ownership of the Code of Audit Practice, quality oversight and reporting.
Mandating audit committees.
The government is also consulting on a number of specific proposals as part of this strategy, including:
Potential additional functions of the new LAO.
Simplifying financial reporting requirements to ensure they are proportionate.
Improvements to enhance capacity and capabilit
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