Nearly all (98%) of local authorities have decided to join the new national scheme, which will negotiate auditors’ contracts on their behalf.

The scheme, developed by Public Sector Audit Appointments Ltd (PSAA), will help manage council auditing contracts following the closure of the Audit Commission in 2015.

The scheme is expected to save councils the time and money associated with establishing and maintaining an independent auditor panel.

PSAA chairman Steve Freer said: ‘This is extremely positive news. We are absolutely delighted that more than 98% of authorities have decided to take up our offer - it is difficult to recall a collaboration initiative which has achieved greater buy-in.

‘It represents overwhelming endorsement for the scheme which we have developed in partnership with the sector, with tremendous support from the LGA and invaluable guidance from our advisory panel of stakeholders.’

In our recent feature, Stephen Sellers explains the three main routes that local government can take when appointing an auditor.