Headlines, PublicNet: 21 March, 2012
The Audit Commission is to cut audit fees for the country’s 9,800 smaller local public bodies, mainly parish and town councils.
The Audit Commission has set up five-year audit contracts to start in 2012/13. The savings from the procurement mean almost 4,500, around half of England’s small local public bodies, will not have to pay any audit fees at all. Those small bodies with annual income/expenditure of up to £10,000 will now fall into the ‘nil fee’ band. Currently this applies to just over 1,000 bodies with income/expenditure up to only £1,000. The savings also mean the fees for other small bodies will be cut by 30 per cent.
Read more on AUDIT PRICE DROP FOR PARISH AND TOWN C0UNCILS…