Draft legislation will fail to deliver a more efficient and transparent local audit system unless serious flaws are addressed, MPs are warning today. Following a detailed review of the proposed legislation, the Local Audit Bill committee says it is concerned that the principle of independent audit could be undermined unless the Bill is changed. Margaret Hodge MR chair of the ad-hoc committee said: 'We heard conflicting evidence about whether and how much public money is likely to be saved by implementing this legislation. Given this uncertainty, it's essential the government commissions and publishes a new financial impact assessment alongside the Bill when this is presented to parliament.'
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