External audit is an essential element in the process of accountability for public money and makes an important contribution to the stewardship of public resources and the corporate governance of public services.
The Audit Commission is responsible for the External Audit and Inspection of the London Development Agency. The work of the Audit Commission and any auditor it appoints is conducted in accordance with the Audit Commission's Code of Audit Practice ("the Code").
The Annual Audit and Inspection Letter issued by the Audit Commission each year summarises their assessment of the LDA drawing on audit, inspection and performance assessment work they undertake during the accounting period.