Audit Quality Report 2024

Building Lasting Confidence and Trust in Quality

In today’s rapidly evolving public sector landscape, the importance of audit quality cannot be overstated.

The public sector, UK companies and individuals across society continue to face major upheaval and uncertainty: from climate change to digital disruption; from significant pressures on public finances to the lingering vestiges of high inflation and interest rates; and, from the change of emphasis of a new UK government to the uncertainty of elections in Wales and Senedd reform in 2026.

Developing a Roadmap for Continuing Success

My role as Executive Director Audit Services is to put in place arrangements to achieve the highest standards of international professional practice and to create an environment in which audit quality can flourish.

Against the backdrop of significant changes in the past two years to our audit approaches, I was delighted with the outcome of the QAD file review resultswith 100% of all files reviewed meeting our quality target.

Maintaining high standards of audit quality

Audit quality is, and must remain, at the core of everything we want to achieve as Audit Wales. It is therefore essential that we maintain high standards of audit quality if we are to preserve and enhance our position as an authoritative, trusted, and independent voice.

In this commentary, I set out the report I am required to provide to the Auditor General and the Wales Audit Office Board on:

• the effectiveness of our audit quality arrangements; and
• the adequacy of resources committed to those arrangements.