NHS Audit Market Study
Published: 25 July 2024
Response deadline: 17 October 2024
| Title | NHS Audit Market Study launch Invitation to comment |
|---|---|
| Format | pdf, 232.7 KB |
Overview
This FRC market study will focus on how well the UK NHS audit market is functioning, including the demand for audit, unique features of the regulatory framework and barriers to entry and expansion. This market study will look at the impact on NHS providers, Integrated Care Boards, stakeholders, and the wider audit market.
The closing date for responses was 17 October 2024.
| Name | NHS Audit Market Study launch information sheet |
|---|---|
| Publication date | 25 July 2024 |
| Type | Information sheet |
| Format | PDF, 1.5 MB |
Emerging findings
The FRC has published initial feedback on its market study into the audit market for NHS providers and Integrated Care Boards (ICBs). The report outlines feedback received to the FRC’s Invitation to Comment, our survey of NHS bodies, and extensive engagement with NHS bodies, audit firms and other system stakeholders. The emerging findings also provide market data on audit fees paid by NHS providers, audit firm engagements across the sector, and the timeliness of audits being delivered.
The FRC invited stakeholders to provide further input, responding to the questions set out in the emerging findings by 6 February 2025.
| Name | NHS Audit Market Study Emerging Findings |
|---|---|
| Publication date | 12 December 2024 |
| Type | Report |
| Format | PDF, 982.0 KB |
Final report
The FRC has published its final report from its market study into the audit market for NHS providers and Integrated Care Boards (ICBs).The market study was launched in July 2024 as part of the FRC’s previous system leadership role for local audit in response to growing concerns about challenges NHS bodies are facing in appointing and retaining auditors.
The FRC has found that while the audit market for NHS bodies in England is functioning and working more effectively than the audit market for local authorities, there are issues which may risk future resilience. The report sets out a range of potential short and medium to long-term remedies which can be considered to address these issues as part of the Government’s wider reform programme for the local audit system.
| Name | NHS Audit Market Study Final Report |
|---|---|
| Publication date | 14 May 2025 |
| Type | Report |
| Format | PDF, 11.1 MB |