Concerns over value for money as audit cost rises

CITY COUNCIL WILL HAVE TO PAY FEES OF £645K TO PRIVATE FIRM

- By JOE LOCKER Local democracy reporter

FEES for a private firm to review Nottingham City Council’s accounts are rising again despite audits being incomplete - prompting concerns over value for money for the taxpayer.

The financial accounts of public organisations, such as councils, are reviewed by audit firms to ensure everything is in check - a legal requirement.

The Audit Commission conducted the assessments until it was closed in 2015 under a previous Conservative government, and work is now outsourced to private firms. Following the changes, a significant backlog in audited accounts has built up.

In response, the Government has set a series of statutory backstop dates to clear the backlog and allow the system to recover, meaning accounts will be finalised and passed off despite not being fully reviewed.