HFMA briefing on NHS external audit market
The Healthcare Financial Management Association (HFMA) has recently published a briefing paper on the NHS external audit market and the challenges around appointing external audit suppliers.
The research was based on a HMFA survey of finance directors and interviews with auditors, finance professionals and procurement leads including our Senior Category Manager for FM Property and Business Services Jackie Williams.
The report highlights the complex and intertwined causes of the current issues in the NHS external audit market including the tendering process, audit interest, risk, capacity and fees; as well as proposed short and long term solutions.
HFMA’s report recognises that fundamental change is required to the NHS external audit market to ensure that it is sustainable for the future. Specific actions for NHS bodies include understanding the competing pressures faced by all parties, establishing clear arrangements, ensuring tenders are issued in a timely manner and supporting new entrants to the market.
Jackie Williams said: “HFMA’s briefing paper seeks to raise awareness of current issues and feed into local and national discussions on the points raised. We will continue to work with our customers to provide updates and advice as this situation develops.”
A full copy of the report can be read here