The Public Sector Audit Appointments (PSAA) has revealed that as of the November 30, 2022 issue date, only 12% of local governments’ 2021/22 audit opinions had been granted.
PSAA said: This is slightly higher than last year’s 9%, but this year’s publication date is two months behind his 2020/21 opinion delivery target of 30 September. ”
For 2019/20, nearly half (45%) of the comments were submitted by the publication date of 30 November 2020. For 2018/19, 57% of comments were submitted by the publication date of 31 July 2019.
PSAA said: With less than 60 submissions submitted in 2021/22, this means that a total of over 630 submissions are currently overdue. ”
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Uncertainty over the valuation of infrastructure assets will make this position more challenging this year, according to the organization, and it will need sufficient staff with the necessary knowledge, skills and experience to both prepare and audit its accounts to the Ministry of Finance. The required standards, in addition to the important ongoing task of adopting and maintaining them.
PSAA Chair Steve Freer said:
“As 2023 approaches, more than 160 institutions are still awaiting audit opinions for 2020/21 and 2021/22, as well as years before. We manage the challenges above and plan for the future, but we have limited assurance of our underlying financial position.
“The local audit system desperately needs to find a way to resolve outstanding issues and restore the norms of timely opinion as quickly as possible.”
