Draft Code of Audit Practice - invitation to comment

Consultation closed

Thank you to all who have responded to the consultation on the draft new Code of Audit Practice, particularly given the current pressures on public bodies and all stakeholders in light of COVID19. The consultation is now closed and we will now consider all the responses we have received, as well as opportunities for any further direct engagement, ahead of finalising the code.

Code of Audit Practice consultation

The Auditor General for Scotland and the Accounts Commission for Scotland revise and approve a new Code of Audit Practice (Code) every five years to clearly set out what they expect from the audit of public bodies. Once approved the Code applies to all types of audit work carried out on behalf of the Auditor General and the Accounts Commission, to all sectors and to all auditors - whether Audit Scotland or accountancy firms.

The Auditor General and the Accounts Commission have agreed to a single Code of Audit Practice. It brings together the requirements placed on the Auditor General for Scotland under the Public Finance and Accountability (Scotland) Act 2000 and; the Accounts Commission under the Local Government (Scotland) Act 1973, together with current professional requirements and best practice to set a framework for public audit in Scotland.

Caroline Gardner

Auditor General for Scotland Caroline Gardner said:

“Independent, reliable and high-quality audit improves the use of public money and helps ensure the services we all rely on are as effective and efficient as they can be. The Code of Audit Practice is central to this, setting the principles of public audit and expectations on auditors. Through this we can maintain and strengthen the distinctive model we have in Scotland that safeguards independence, transparency and quality.

“Our consultation comes at a time of significant changes and pressures in public services. It’s crucial we hear views from as wide and diverse a group of people and organisations as possible.“

Graham Sharp

Accounts Commission chair Graham Sharp said:

“Independent external audit and assurance are essential features of public audit and the effective scrutiny of public services. This is even more important when finances and services are under pressure.

“This Code will help ensure that public audit in Scotland continues to add value to public bodies and supports the public and elected members to understand how public money is spent. The Accounts Commission welcomes your comments, particularly on the integration of best value audit reporting into the annual audit.“