§ Mr. LintonTo ask the Secretary of State for the Environment, Transport and the Regions what steps are being taken to replace the Code of Audit Practice which ceases to have effect on 21 July; and if he will make a statement. [114331]
§ Ms ArmstrongOn 2 March the Audit Commission approved a new Code of Audit Practice which it has submitted to my right hon. Friend who has today laid a copy before the House.
It is now for the House to consider the Code and, if it sees fit, to approve it. If approved, the Code will prescribe the way in which auditors in England and Wales must carry out their audits of local government and NHS bodies, and it will also set out auditors' responsibilities in relation to the audit of local government Best Value Performance Plans.
The Code has been prepared under the Audit Commission Act 1998 and the Local Government Act 1999. The Code sets out the general principles to be followed by auditors, and the audit framework within which auditors will carry out their responsibilities. It also sets out auditors' responsibilities in relation to reviews of the financial aspects of corporate governance; the audit of the accounts; and reviews of aspects performance management.