In response to the government announcement that the Audit, Reporting and Governance Authority (ARGA) will be the system leader in local audit, Rob Whiteman, CIPFA CEO, said:
“CIPFA welcomes the confirmation that ARGA will be the new system leader for local audit. A strong system leader that’s focused on the needs of local audit is essential to push through the much-needed changes.
“We're still concerned about the current state of the local audit market, particularly the serious delays in the publication of audited financial statements. These delays have a substantial impact on staff resources, which in turn affects policy delivery – including the government’s levelling up agenda.
“ARGA’s new dedicated team will need to have the right skills and experience if it’s to bring about positive and meaningful change to the sector.
“CIPFA also welcomes the government’s proposal to make audit committees compulsory for all English local councils. We believe that an effective audit committee is essential for good governance arrangements – so this is good news.”
NOTES TO EDITOR:
The government announcement can be found here.
ARGA is the successor to the Financial Reporting Council (FRC).
For more information contact the CIPFA press office.