To consider the External Audit Plan for South Lakeland District Council year ending 31 March 2021.
The External Audit Manager presented the External Audit Draft Plan for the Council for the year ended 31 March 2021. The Plan set out an overview of the planned scope and timing of the statutory audit of the Council for those charged with governance.
The document aimed to assist the Committee in understanding the consequences of External Audit’s work, discuss issues of risk and the concept of materiality and identify those areas of work External Audit would undertake during the year.
In presenting the report, the External Audit Manager referred to the revised approach to Value for Money, before moving on to the significant risks, particularly that of Covid-19 and implications on financial reporting and accounting. He felt that the pandemic would have a significant impact on the Council’s resources, in terms of increased expenditure and especially lost income. He specifically mentioned the risk attached to fraud in revenue recognition, highlighting that some elements of the risk had been rebutted and stated that overall; South Lakeland District Council is low risk. In concluding his report, the External Audit Manager informed Members of a high level commentary on Local Government Reorganisation during 2021/22 with the aim of reporting back to the Audit Committee later in the year.
No Member having raised concern when asked by the Chairman, it was
RESOLVED – That the External Audit Plan for South Lakeland District Council year ended 31 March 2021 be noted.