The key objectives of financial audit are to:
- provide reasonable assurance that the financial statements audited by the Office give a true and fair view, have been prepared in accordance with the relevant accounting and other requirements and are in accordance with the authorities that govern them;
- identify, assess and examine risks to regularity, propriety and financial control in audited bodies and report on significant weaknesses; and
- provide audited bodies with constructive advice that will help them improve their corporate governance, financial management, control and reporting.
Financial audit is conducted in accordance with United Kingdom Auditing Standards issued by the Auditing Practices Board.
Information specific to Local Government Audit
In undertaking the audit of financial statements for each of the local authorities, each Local Government Auditor has the power to apply to the court for a declaration if expenditure appears contrary to law and can hold individuals responsible for failing to bring monies to account or for losses incurred by willful misconduct. Furthermore, a Local Government Auditor can, if he considers it appropriate, make a public interest report on any matter coming to his notice in the course of the audit.
Accounts Audited
The list of accounts subject to audit by the C&AG and designated local government auditors can be accessed at List of Bodies Audited.
Inspection Rights
The C&AG has access rights to certain bodies where he is not the appointed auditor. He uses these rights to bring any material matters to the attention of the Assembly. Such bodies include Housing Associations, Higher Education Institutes, Further Education Colleges, Voluntary Grammar Schools, Grant Maintained Integrated Schools and other entities, such as Public Private Partnerships.
Reporting
The results of the C&AG’s financial audit work are reported to the Northern Ireland Assembly. His report on each set of accounts is published with the accounts by the audited body. He also produces standalone reports which are published as Assembly documents. The results of work undertaken by Local Government Auditors are reported to the Department of the Environment. These reports are copied to the District Councils and are available for inspection by the public.
Click on Publications > Reports to access the C&AG’s reports.
Click on Publications > Press Releases to access press releases on reports.