Contact your Parish Council
Audit, Governance & Standards |
20 March 2017 |
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Is the final decision on the recommendations in this report to be made at this meeting? |
Yes |
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External Auditor’s Audit Plan |
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Final Decision-Maker |
Audit, Governance & Standards Committee |
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Lead Director or Head of Service |
Mark Green, Director of Finance & Business Improvement |
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Lead Officer and Report Author |
Ellie Dunnet, Chief Accountant |
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Classification |
Non-exempt |
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Wards affected |
None |
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This report makes the following recommendations to the final decision-maker: |
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1. That the committee notes the external auditor’s audit plan attached at Appendix A. |
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This report relates to the following corporate priorities: |
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The report is focused on ensuring that the auditor’s opinion on the 2016-17 financial statements and value for money conclusion are issued by the statutory deadline of 30 September 2017. |
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Timetable |
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Meeting |
Date |
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Audit, Governance & Standards Committee |
20 March 2017 |
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External Auditor’s Audit Plan |
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1. PURPOSE OF REPORT AND EXECUTIVE SUMMARY
1.1 Committee members are invited to consider and comment on the report of the external auditor on the proposed audit plan for the 2016/17 financial statements and value for money conclusion.
1.2 Representatives from Grant Thornton will be in attendance at the meeting to present their report and respond to questions.
2. INTRODUCTION AND BACKGROUND
2.1 The external auditor produces an annual audit plan for the financial statements audit opinion and value for money conclusion. As in previous years this work will be undertaken by Grant Thornton, the appointed auditors. A copy of the plan, which includes the outcomes of work undertaken to date, is attached at Appendix A.
3. AVAILABLE OPTIONS
3.1 As the committee charged with responsibility for overseeing the financial reporting process, the Audit, Governance and Standards Committee is asked to consider and note this report. The committee could choose not to consider this report, however this option is not recommended since the report is intended to assist the committee in discharging its responsibilities in relation to external audit and governance.
4. PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS
4.1 The report details the external auditor’s plan for ensuring the delivery of the audit opinion and value for money conclusion by the statutory deadline and notes the significant risks identified, the results of the work undertaken to date and the anticipated audit fee. It is considered appropriate for the committee to receive this information at this time.
5. CROSS-CUTTING ISSUES AND IMPLICATIONS
Issue |
Implications |
Sign-off |
Impact on Corporate Priorities |
The report is focused on ensuring that the auditor’s opinion on the 2016-17 financial statements and value for money conclusion are issued by the statutory deadline of 30 September 2017. |
Section 151 Officer & Finance Team |
Risk Management |
This report supports the committee in the delivery of its governance responsibilities. It also helps to mitigate the risk of non-compliance with the statutory timetable for the production and audit of the annual accounts through timely communication of any potential issues. |
Section 151 Officer & Finance Team |
Financial |
There are no direct financial implications arising from the report, although the opinion on the financial statements and value for money conclusion are one mechanism through which the council demonstrates financial accountability. |
Section 151 Officer & Finance Team |
Staffing |
Not applicable |
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Legal |
Not applicable |
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Equality Impact Needs Assessment |
Not applicable |
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Environmental/Sustainable Development |
Not applicable |
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Community Safety |
Not applicable |
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Human Rights Act |
Not applicable |
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Procurement |
Not applicable |
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Asset Management |
Not applicable |
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6. REPORT APPENDICES
The following documents are to be published with this report and form part of the report:
· Appendix A: External Auditor’s Audit Plan
7. BACKGROUND PAPERS
None