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This impact assessment quantifies the costs and savings associated with the government’s programme of reforms to local audit set out in the Local Audit and Accountability Act. This includes abolishing Comprehensive Area Assessment, outsourcing the Audit Commission’s in-house audit practice, abolishing the Audit Commission and establishing a new decentralized local audit framework.
It incorporates the most recent cost data available from the Audit Commission, including its anticipated reductions in fee levels. As a result the impact assessment shows that government is on track to achieving savings to the taxpayer of £759 million over 5 years (2012 to 2017) and an estimated £1.3 billion (increased from £1.2 billion) over 10 years.