Decision details

External Audit Opinion on Accounts - Audit Findings Report

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decisions:

Copies of the report, which was marked “to follow” on the Agenda, had been circulated to Members on 22 September 2021.

 

Gareth Kelly, External Audit presented the Audit Findings report.  The report presented the observations arising from the audit that were significant to the responsibility of those charged with governance to oversee the financial reporting process, as required by International Standard on Auditing (UK) 260.

 

It was pointed out that External Audit had not yet completed all of the Value for Money work and so were not in a position to issue their Auditor’s Annual Report.  They expected to issue their Annual Report by the end of December 2021, which was in line with the National Audit Office’s revised deadline.  As part of the work, External Audit had considered whether there were any risks of significant weakness in the Council’s arrangements for securing economy, efficiency and effectiveness in its use of resources. To date, they had not identified any weaknesses in the Council’s arrangements.

 

External Audit had substantially completed their audit of the Council’s financial statements and, subject to outstanding queries being resolved, anticipated issuing an unqualified audit opinion following this meeting.

 

During discussion on the item, Members raised a question regarding the trend in increasing Audit Fees; the Finance Specialist (Deputy Section 151 Officer) informed Members that this was due to additional work due to Value for Money which were new auditing standards. In addition, the Finance Lead Specialist (Section 151 Officer) highlighted that a basic fee is charged and that any additional work being undertaken increased the fee overall.

 

RESOLVED – That the Audit Findings made by the External Auditors for the year ending 31 March 2021 be noted and received.

Publication date: 30/11/2021

Date of decision: 23/09/2021

Decided at meeting: 23/09/2021 - Audit Committee

Accompanying Documents: