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FRC finds improving quality but significant delays in audits of local bodies

Town Hall sign on building
Photo: Getty Images

Thomas Hyrkiel

2 min read
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The FRC’s major local audit quality report points to some improvements in audit quality, but significant issues connected to their timeliness.

The Financial Reporting Council (FRC) has released a report on the audit quality of major local audits in 2021-2022. The report assesses six accounting firms’ audits of health bodies, local government councils and local authority pension funds that met the following criteria:

  • total income or expenditure of at least £500m
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