4: PAC conclusion: The rapidly diminishing pool of suitably qualified and experienced staff increases the risks to the timely completion of quality audits. 4: PAC recommendation: The Department should work with the FRC and the accountancy institutions to implement accelerated training and accreditation to increase the supply of qualified auditors quickly, and to build attractive career paths in local audit. 4.1 The government agrees with the Committee’s recommendation. Target implementation date: by end of 2021 4.2 The government agrees that a ready availability of skilled and appropriately trained auditors is crucial to ensuring both the long-term sustainability of the local audit market and good quality, timely audit. As Sir Tony Redmond has noted in his review, the local audit market is currently dependent on a few big suppliers and more needs to be done to encourage other firms into the market to support long-term sustainability. 4.3 The department committed in its December 2020 response to working with the Chartered Institute of Public Finance and Accountancy (CIPFA), the Financial Reporting Council (FRC), the Institute of Chartered Accountants in England (ICAEW) and Wales and other stakeholders on both improving auditor training and reviewing the entry requirements for Key Audit Partners and to strike an appropriate balance between ensuring audit quality and market sustainability. The public consultation published on 28 July 2021 sets out proposals from a sector lead working group for delivering this, including to amend Key Audit Partner guidance to facilitate additional routes, as well as proposals to develop a new training offer, and the department is seeking views on whether these activities, or further action, are required to support the pipeline of future auditors, and support new entrants into the market. Alongside this, the Department for Business, Energy and Industrial Strategy (BEIS) is also considering responses to the consultation on its White Paper that includes proposals for increasing competition in the wider audit market. 4.4 The department will continue to work with FRC, ICAEW, CIPFA, PSAA, and others as the working group develops its proposals and the department considers responses to the consultation and will provide an update on this work in the broader consultation response before the end of 2021. 24