AUDIT COMMISSION AXE COULD PROVE 'COSTLY IN LONG TERM'

摘要

Abolishing the Audit Commission and relying on 'armchair audits' could lead to inconsistency and uncertainty, accountants are warning.rnBut such a move could create more competition in the audit market, it is claimed.rnIn a bid to save ￡50m, the government has announced its intention to scrap the public sector watchdog, which currently checks the efficiency and effectiveness of 11,000 local public bodies with a combined spend of ￡200bn.