The paper compares and contrasts public sector audit with private sector audit of listed companies in the UK. It focuses on the differences in audit quality, independence, and governance between the two sectors. The paper highlights that public sector audits are generally considered to be of lower quality compared to private sector audits, as they are often subject to political and budgetary pressures. However, the paper also notes that public sector audits are subject to more rigorous oversight and regulation, which can help to improve audit quality. The paper concludes that public sector auditors need to work closely with stakeholders to ensure that audits are conducted in a transparent and accountable manner, and that they are able to provide value-added services to the organizations they audit.
