Your Councillors


External Audit Update

Audit, Governance & Standards

21 November 2016

Is the final decision on the recommendations in this report to be made at this meeting?

Yes

 

External Audit Update November 2016

 

Final Decision-Maker

Audit, Governance & Standards Committee

Lead Director or Head of Service

Mark Green, Director of Finance & Business Improvement

Lead Officer and Report Author

Ellie Dunnet, Chief Accountant

Classification

Non-exempt

Wards affected

None

 

 

This report makes the following recommendations to the final decision-maker:

1.    That the committee notes the external auditorís update report attached at Appendix I.

 

 

This report relates to the following corporate priorities:

         Keeping Maidstone Borough an attractive place for all

         Securing a successful economy for Maidstone Borough

The report is primarily focused on setting out the external auditorís plans for issuing an opinion on the 2016-17 financial statements and concluding on value for money by the statutory deadline of 30 September 2017.

 

 

Timetable

Meeting

Date

Audit, Governance & Standards Committee

21 November 2016



External Audit Update November 2016

 

 

1.                        PURPOSE OF REPORT AND EXECUTIVE SUMMARY

 

1.1      The committee are invited to consider the report of the external auditor which sets out plans for the 2016-17 audit and offers a summary of emerging national issues and developments of relevance to the local government sector.

 

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      External audit services are provided by Grant Thornton who successfully tendered for the five year contract from 2012-13 following the abolition of the Audit Commissionís audit practice.

 

2.2      This report sets out plans for the 2016-17 audit and informs committee members of a number of relevant emerging issues and developments.

 

 

3.                        AVAILABLE OPTIONS

 

3.1      The committee could choose not to consider this report, however this option is not recommended as to do so could have an adverse impact on the Audit, Governance and Standards Committeeís ability to discharge its responsibilities in relation to external audit and governance.

 

 

4.         PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS

 

4.1      Given the respective responsibilities of both the external auditor and this committee, an update report of this nature is judged to be appropriate for consideration by committee members.

 

 

5.        CROSS-CUTTING ISSUES AND IMPLICATIONS

 

Issue

Implications

Sign-off

Impact on Corporate Priorities

The report is primarily focused on setting out the external auditorís plans for issuing an opinion on the 2016-17 financial statements and concluding on value for money 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

Not applicable

 

Staffing

Not applicable

 

Legal

Not applicable

 

Equality Impact Needs Assessment

Not applicable

 

Environmental/Sustainable Development

Not applicable

 

Community Safety

Not applicable

 

Human Rights Act

Not applicable

 

Procurement

Not applicable

 

Asset Management

Not applicable

 

 

6.         REPORT APPENDICES

 

The following documents are to be published with this report and form part of the report:

               Appendix I: External Audit Update November 2016

 

 

7.         BACKGROUND PAPERS

 

None