What Audit Wales does

Audit Wales is the statutory public sector audit institution for Wales, operating under the Public Audit (Wales) Act 2013 through two legal entities: the Auditor General for Wales, who holds a statutory office and audits and reports on Welsh public bodies, and the Wales Audit Office (Swyddfa Archwilio Cymru), the corporate body that employs staff and provides resources. The organization is headquartered in Cardiff with additional offices in Llandudno and Swansea, and audits over 800 public bodies examining nearly £30 billion of public income and expenditure annually.

Its core product portfolio comprises Financial Audit (issuing formal audit opinions on the accounts of public bodies) and Performance Audit (examining wider public service delivery, value for money, and compliance with the sustainable development principle of the Well-being of Future Generations (Wales) Act 2015). Supporting offerings include the National Fraud Initiative, a biennial data matching exercise that has detected over £56.5 million in Welsh fraud since 1996; a suite of interactive Data Analytics Tools covering NHS waiting times, local government finance, Additional Learning Needs, and active travel; the Good Practice Exchange knowledge-sharing programme; published National and Local Audit Reports; the Audit Trainee Programme offering ICAEW Chartered Accountant qualification; and the annual Forward Work Programme.

Revenue is generated through statutory audit fees charged to audited public bodies under fee scales prescribed by the Auditor General, supplemented by Welsh Government parliamentary appropriations approved annually by the Senedd Cymru. There is no commercial go-to-market motion—the organization holds a constitutional mandate over its defined Welsh public sector customer base and operates as a non-commercial government institution rather than a market-facing business.

Name

Audit Wales

Legal name

Wales Audit Office

Website

https://audit.wales

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Short description

Audit Wales is Wales's statutory public sector auditor, delivering financial and performance audits across 800-plus Welsh public bodies and examining nearly £30 billion of public expenditure annually under the Public Audit (Wales) Act 2013.

Ownership category

akta.pro rank

Product category

Public Sector Audit Services

NAICS

Public Finance Activities (92113), Offices of Certified Public Accountants (541211)

akta.pro primary industry

Financial Risk, Controls & Audit (Public Sector) (BPAIAEAH)

akta.pro secondary industries

Audit & Assurance Services (BPAHABAA), Government Accounting & Financial Reporting (BPAIAEAD)

Keywords

• Public sector audit
• Financial audit services
• Performance audit
• National fraud initiative
• Public body assurance

Headquarters

HQ city

Cardiff

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Statutory Audit Fees: Audit Wales operates under the Public Audit (Wales) Act 2013. The Auditor General prescribes fee scales for local government bodies, which provide a framework for auditors to discuss fees with audited bodies. Fee scales are benchmarked against fees charged by other UK audit agencies. Fees must be within +/- 5% year-on-year or are reviewed by the Auditor General. Additional work beyond general duties (such as reporting in the public interest, extraordinary audit, special inspections) is charged on a day rate basis. Separate fee rates apply for certifying claims and returns for grants.
2. Government Funding: As a Welsh public body, Audit Wales receives funding through Welsh Government parliamentary appropriations. Annual estimates of income and costs are submitted to the Senedd Cymru for approval.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Audit Wales is the statutory auditor for Welsh public sector bodies, delivering independent financial audits and performance examinations of central and local government organisations. The body examines approximately £30 billion of public expenditure annually across 800+ public bodies, providing assurance on financial statements and value for money. It operates through two legal entities — the Auditor General for Wales and the Wales Audit Office — to deliver its statutory mandate under the Public Audit (Wales) Act 2013.

Product overview

Audit Wales operates as an independent audit organization for the Welsh public sector, comprising two legal entities: the Auditor General for Wales (who audits and reports on public bodies) and the Wales Audit Office (which provides staff and resources). The organization offers a unified portfolio of audit services centered on two core products: Financial Audit (examining annual accounts of public bodies to verify proper use of public money) and Performance Audit (examining wider issues of public service delivery). Supporting these are specialized products including the National Fraud Initiative (data matching to detect fraud), a suite of Data Analytics Tools (interactive dashboards on NHS, local government, and other public sector metrics), the Good Practice Exchange (knowledge-sharing events and resources), published National and Local Audit Reports, and an Audit Trainee Programme (professional qualification pathway). The Forward Work Programme organizes and communicates upcoming audit priorities across four themes: tackling inequality, climate emergency response, service resilience, and well-governed public services. Together, these products provide assurance, explanation, and inspiration to improve public money management in Wales.

Differentiator

Problem solved

Functional benefit

Products and services

• Financial Audit Statutory audit of financial statements of Welsh public sector bodies, providing independent opinion on the accuracy and proper presentation of accounts for organisations across central and local government.
• Performance Audit Examination of whether public bodies in Wales are using their resources economically, efficiently and effectively, assessing value for money across government programmes and services.
• National Fraud Initiative (NFI) Data-matching exercise that compares electronic records across participating UK public bodies to detect potentially fraudulent claims, errors, and undeclared income, helping Welsh bodies prevent and recover losses.
• Local Government Audit Statutory audit services for Welsh local government bodies, including county councils, unitary authorities, fire and rescue authorities, national park authorities, and community councils.
• Central Government Audit Audit and assurance services for Welsh Government departments, sponsored bodies, executive agencies, NHS bodies, and other central government organisations funded from the Welsh Consolidated Fund.
• Good Practice Exchange Knowledge-sharing service that disseminates audit findings and best practice guidance to help Welsh public sector organisations improve their financial management and service delivery.
• Audit Trainee Programme Professional training programme that develops the next generation of public sector auditors in Wales, providing accredited qualification pathways into the audit profession.
• National and Local Audit Reports Published audit findings and recommendations for the public, Senedd members, and audited bodies, providing transparency on the use of Welsh public funds.
• Forward Work Programme Annual published programme of planned audit work covering financial and performance examinations across the Welsh public sector, providing visibility on upcoming reviews.

Quantifiable outcome

• Over £56.5 million of fraud and overpayments detected and prevented in Wales since 1996 through the National Fraud Initiative
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Six partnerships are on record, tiered moderate, core and minor.

• Public Audit ForummoderateStrategic or Co-development PartnerThe Public Audit Forum brings together UK public sector audit institutions for the development of public audit work. It provides a platform for coordination and sharing of audit methodologies and practices across the UK public audit landscape.
• National Fraud Initiative (NFI)coreStrategic or Co-development PartnerThe National Fraud Initiative is a biennial data matching exercise across UK public sector organizations to detect fraud and overpayments. The Auditor General uses statutory data matching powers to conduct NFI in Wales. Since 1996, NFI has led to £56.5 million detected/prevented in Wales and £2.9 billion across the UK.
• Good Practice Exchange (GPX)coreStrategic or Co-development PartnerThe Good Practice Exchange is a program designed to help public bodies share insights and learning from each other. It includes events, webinars, and other digital content to facilitate knowledge sharing across the Welsh public sector.
• External Review Bodies in WalesminorStrategic or Co-development PartnerAudit Wales engages and coordinates its work with review bodies, commissioners, and the Public Services Ombudsman for Wales to ensure comprehensive oversight of Welsh public services.
• ICAEW (Institute of Chartered Accountants in England and Wales)coreStrategic or Co-development PartnerAudit Wales trainees study for the ICAEW Chartered Accountant qualification. The organization provides paid training through ICAEW with examination pass rates above the national average. ICAEW membership fees are covered for qualifying staff.
• Civil Service Pension SchemecoreOthersWorking for Audit Wales entitles employees to become members of the Civil Service Pension Scheme. The organization contributes approximately 26.6-30.3% of salary annually, considered one of the best employer contribution rates.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Accounts Commission for Scotland: Statutory body that oversees local authority auditing in Scotland and independently reviews how councils deliver services. It is a peer in the local-government public-audit sub-segment that Audit Wales addresses in Wales, operating under the devolved-jurisdiction model.

Others

• Chartered Institute of Public Finance and Accountancy (CIPFA): The professional accountancy body for public services, CIPFA sets standards and produces guidance used across UK public sector audit, including Welsh local government. It is an ecosystem partner and capability benchmark for Audit Wales's qualified staff, rather than a direct competitor.
• HM Treasury (Public Spending): UK government's economic and finance ministry, which oversees public spending frameworks that intersect with Welsh public audit. While not a peer in operations, HM Treasury sets the broader fiscal accountability standards within which Audit Wales operates, particularly through the Treasury Concordat and Welsh block-fund arrangements.
• Public Services Ombudsman for Wales: Independent complaints body for Welsh public services, listed in Audit Wales's partnerships as a coordinating review body. It is an adjacent oversight institution that complements Audit Wales's work rather than competes with it, sharing statutory independence from the Welsh Government.

Broad incumbents

• National Audit Office (NAO): The UK's central government auditor, NAO audits the expenditure of UK government departments and agencies. It is the closest English-equivalent comparator to Audit Wales in statutory remit, financial audit methodology, and performance audit of public bodies, though it operates at UK central-government rather than Welsh devolved level.

Direct peers

• Audit Scotland: Scotland's independent public sector auditor, established under the Public Finance and Accountability (Scotland) Act 2000. Audit Scotland is a direct functional peer of Audit Wales, auditing Scottish councils, NHS bodies, and central government with parallel financial and performance audit mandates, including its own version of fraud-related data matching work.
• Northern Ireland Audit Office: Northern Ireland's statutory public sector auditor, conducting financial and value-for-money audits of NI departments, councils, health bodies, and public corporations. It shares Audit Wales's devolved-jurisdiction, statutory-mandate structure and Public Audit Forum membership, making it a near-direct institutional peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/WalesAuditOffice/videos
• Xx.com/WalesAudit
• Facebookfacebook.com/auditwales
• LinkedInlinkedin.com/company/audit-wales

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Audit Wales