External Auditor's Audit Plan

Audit, Governance & Standards

20 March 2017

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

Yes

 

External Auditorís Audit Plan

 

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 audit plan attached at Appendix A.

 

 

This report relates to the following corporate priorities:

The report is focused on ensuring that the auditorís opinion on the 2016-17 financial statements and value for money conclusion are issued by the statutory deadline of 30 September 2017.

 

 

Timetable

Meeting

Date

Audit, Governance & Standards Committee

20 March 2017



External Auditorís Audit Plan

 

 

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 auditorís 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 auditorís 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

 

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 A: External Auditorís Audit Plan

 

 

7.         BACKGROUND PAPERS

 

None