The CIPFA Audit Conference 2010 ‘Audit: Making a Difference in Challenging Times’
18/19 May - Manchester
The CIPFA Audit Conference is the key national event for internal and external audit teams from across the full spectrum of public services. 2010 sees the event being completely re-shaped to offer you an even more efficient, effective and up-to-date conference. Two packed days of strategic, practical, motivating and innovative sessions will send you and your teams away fully armed with vital information and new strategic ideas. Book online now.

CIPFA Statement on the role of the Head of Internal Audit in public service organisations
Work on this is underway. The Steering Group chaired by Mike More, Chief Executive at Westminster City Council, met earlier this month. CIPFA will be issuing a draft Statement for consultation in May but are keen to canvass views at this stage on the proposed principles and the issues to cover. Please click here for more...

(Posted 21 January 2010)

CIPFA Audit Panel Meeting 2 December 2009
The CIPFA Audit Panel met on 2 December 2009. Please click here to download a note of the proceedings.

(Posted 14 December 2009)

CIPFA's Role in Audit
CIPFA has completed its review of its role in audit. A report was recently endorsed by CIPFA's Public Finance Management Board. The report stressed the importance of CIPFA consolidating its role in internal audit and providing better support to practitioners. One key recommendation was for CIPFA to raise and clarify the role of internal audit and to produce a statement on the role of the Chief Internal Auditor in public service organisations. This will be along the lines of CIPFA's statement on the role of the Chief Finance Officer.  We are starting work on this and want to have the views of practitioners and stakeholders.  A summary of the review report and the proposed CIA statement are available to download below. Please contact clive.darracott@cipfa.org.uk tel 020 7543 5670 if you have any queries or comments.

CIPFA Statement on the role of the Chief Internal Auditor in public services organisations
CIPFA strategic review of its role in audit

(Posted 9 November 2009)

New chair for audit panel
Following some recent interviews CIPFA has appointed Anthony Barrett as the new Chair of the Audit Panel. Anthony was already a member of the panel and is a Partner of the Wales Audit Office and Appointed Auditor for a number of public sector bodies in Wales.

Update to AAF 01/06 released
The ICAEW has today released an update to AAF 01/06 - Assurance reports on internal controls of service organisations made available to third parties.

Working together with stakeholders including CIPFA and third party service providers, the ICAEW has issued an expanded version in July 2009 of its guidance AAF 01/06.

The key changes have been made in response to requests from stakeholders and the appendix on control objectives for use by the service providers now covers additional areas on which assurance reports can usefully be provided. These areas are notably investment administration, private equity and hedge funds.
There is no change to the main body of the guidance. Organizations are urged to adopt the updated version as soon as practicable.

AAF 01/06, first issued in March 2006, is designed to help reporting accountants to issue assurance conclusions in their reports on the control procedures of financial service organisations. The guidance also helps service organisations identify gaps in their control environment by highlighting the importance of considering operational, as well as reporting, risks. The assurance reports, prepared by independent reporting accountants, provide comfort that the controls established by the service organisations have been subject to rigorous external examination. Activities originally covered in the guidance include custody; investment management; pension administration; property management; fund accounting and transfer agency. It is now expanded to include investment administration, private equity and hedge funds.

The updated guidance can be downloaded here

(Posted 6 July 2009)

Volunteer Feedback Survey
We are always eager to hear existing (and potential) panel members' views on how we can help support you better. The Volunteer Survey offers a formal mechanism for you to feed back your views to CIPFA.

Guidance on Reviewing the System of Internal Audit
As part of its programme of work to support audit professionals, CIPFA's Audit Panel is publishing Guidance on Reviewing the System of Internal Audit. We are well aware that this has taken a long time to publish but we have been concerned to consult widely on this key issue. Our consultations have led to significant debate on the issue and CIPFA is grateful to all consultees and other contributors for the thoughtful input. There will, no doubt, continue to be debate around what should be included in the System and the Audit Panel would be pleased to receive any further views that practitioners have on the subject. In the first instance, these should be addressed to the secretary to the Audit Panel matthew.allen@cipfa.org

Audit Viewpoint
CIPFA’s magazine for the audit practitioner, Audit Viewpoint, is used to communicate expert, practical advice on a wide range of audit issues. Each issue is released as a hardcopy and you also have the option of receiving each edition via email as a pdf, at no extra charge.

To set up your subscription, email publications@cipfa.org or call 020 7543 5602.

Download past editions