Decision Maker: Audit Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
The Committee considered this report introduced by the External Auditors Engagement Lead which summarised the work of the External Auditors since the last report. An overview was provided of the Financial Statements Audit, the Value for Money work which included informed decision making, sustainable resource deployment and working with partners and other third parties.
Members noted the key finding of the interim work, and it was reported there had not been any findings of significance. In response to a question that External Auditor confirmed they had been able to access all the information required to enable them to complete their work towards this year’s Annual report. This had been helped with regular meetings with officers to ensure the audit process was a smooth and effective as possible and he noted that progress on current audit work had been satisfactory and that value for money assessments were almost completed.
There was a brief discussion about the planned CIPFA financial resilience index which had been designed to provide reassurance or prompt challenge to Councils depending on their rating/score. CIPFA had invited all interested parties to respond to questions in the consultation by the 24 August so that it could gauge the sector’s views and there had been much feedback and discussion. It was hoped that the final index would be able to provide a fair representation of each Council’s overall progress and situation, and not be a blunt tool that produced figures/outcomes in isolation.
There was a brief discussion about the possible impacts of Brexit on the Council and the External Auditor confirmed although they had not completed any work specific to the Council they were mindful of the changes for all stakeholders and joint services, including the impact for EU nationals and settled status.
There was a question about the fee regarding the Audit of the Pension Fund’s accounts and Members heard the External Auditors, were also the Auditors for the Brunel Partnership, in to which the Council’s Pensions Fund was now being pooled. It was noted that the Auditors were considering how best to get assurance of the investments and understand the changed arrangements in respect of the Fund’s custodian and to this effect the External Auditors had written to Brunel to seek assurance from them.
The Committee noted that the External Auditor confirmed they had been able to access all the information required to enable them to complete their work towards this year’s Annual report. This had been helped with regular meetings with officers to ensure the audit process was a smooth and effective as possible. The Committee accepted the report.
Publication date: 09/07/2019
Date of decision: 20/06/2019
Decided at meeting: 20/06/2019 - Audit Committee