Audit Updates: August 2012

The latest audit news including NAO condemns poor Whitehall audit costs and draft local audit bill published

Poor Whitehall internal audits cost £70m

The National Audit Office has slammed the effectiveness of the £70m the government spends on internal audit, claiming it is often of such poor quality to render it almost useless as an effective decision-making tool. The NAO report found that senior managers expected far more from their internal audit service than was actually being delivered. While 84% said an internal audit added value to their organisation, they raised major concerns that it was not of sufficient relevance to them.

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe