The Accounts and Audit Regulations 2015
| Jurisdiction | UK Non-devolved |
(1) These Regulations may be cited as the Accounts and Audit Regulations 2015 and come into force on 1st April 2015.(2) Regulations 2 to 21 and Schedule 1 apply in relation to any financial year (3) These Regulations apply to relevant authorities (1) In these Regulations—facilitates the effective exercise of its functions and the achievement of its aims and objectives; ensures that the financial and operational management of the authority is effective; and includes effective arrangements for the management of risk. the form of its accounting records and supporting records; andits financial control systems.(2) The responsible financial officer for a relevant authority must ensure on behalf of that authority that the financial control systems determined by that officer in accordance with sub-paragraph (1) (b) are observed and that the accounting records of the authority are kept up to date.entries from day to day of all sums of money received and expended by the authority and the matters to which its income and expenditure or receipts and payments relate; anda record of the assets and liabilities of the authority.to ensure that the financial transactions of the authority are recorded as soon as, and as accurately as, reasonably practicable;to enable the prevention and the detection of inaccuracies and fraud, and the reconstitution of any lost records; andto ensure that risk is appropriately managed;identification of the duties of officers dealing with financial transactions and division of responsibilities of those officers.(1) A relevant authority must undertake an effective internal audit to evaluate the effectiveness of its risk management, control and
- “the 1989 Act” means the Local Government and Housing Act 1989 ;
- “the 2011 Act” means the Police Reform and Social Responsibility Act 2011 ;
- “the Act” means the Local Audit and Accountability Act 2014;
- “audit letter” means the annual audit letter to the relevant authority by the local auditor sent pursuant to the Code of Audit Practice published by the National Audit Office, 157-197 Buckingham Palace Road, Victoria, London SW1W 9SP and dated January 2015. Reference number: 10495-001;
- “Category 1 authority” means a relevant authority that either—
- (a) is not a smaller authority ; or
- (b) is a smaller authority that has chosen to prepare its accounts for the purpose of a full audit in accordance with regulation 8 of the Smaller Authorities Regulations;
- “Category 2 authority” means a smaller authority which is not a Category 1 authority;
- “Category 2 authority with exempt status” means a Category 2 authority that has certified itself as exempt under regulation 9(1) of the Smaller Authorities Regulations;
- “period for the exercise of public rights” means the period of time referred to in regulation 14 within which the rights of objection, inspection and questioning of the local auditor conferred by sections 26 and 27 of the Act may be exercised;
- “Smaller Authorities Regulations” means the Local Audit (Smaller Authorities) Regulations 2015 ;
- “working day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday in England under the Banking and Financial Dealings Act 1971 .
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