MAIDSTONE BOROUGH COUNCIL

Audit Committee

Monday 24 November 2014

REPORT OF Head of finance and resources

Report prepared by Ellie Dunnet 

1.           External Auditor's Annual Audit Letter

1.1        Issue for Consideration

1.1.1   To consider the External Auditor’s Annual Audit Letter for the year ended 31 March 2014.

1.2        Recommendation of Head of Finance and Resources

1.2.1   It is recommended that the committee note and comment on the External Auditor’s Annual Audit Letter included at Appendix A to this report and consider whether any recommendations should be made to Cabinet.

         Reasons for Recommendation

1.2.2   The Annual Audit Letter summarises the main findings from the work undertaken by the external auditor for the year ended 31 March 2014.  Representatives from Grant Thornton will in attendance at the meeting to present their report.

1.2.3   It is recommended that this document is considered by the Audit Committee in accordance with the terms of reference detailed within Article 6A to the council’s Constitution.

1.3        Alternative Action and why not Recommended

1.3.1   The Audit Committee, and the Council, could choose not to acknowledge the comments made by the External Auditor, but this is an independent view of how the authority is operating. It offers

stakeholders an opportunity to gain a view of how the Council is

performing in a range of areas including value for money.

1.4        Impact on Corporate Objectives

1.4.1   The Council is committed to delivering on its priorities and securing value for money.  This letter is one measure of how successful that commitment is.

1.5        Risk Management

1.5.1   Risk Management forms a key part of the corporate governance

arrangements which are assessed as part of the annual audit and

are commented on in this letter.

1.6        Other Implications

1.6.1    

1.6.2   The financial implications arising from the work of external audit are detailed within Appendix A.

1.7        Relevant Documents

1.7.1   Appendices

Appendix A – External Auditor’s Annual Audit Letter 2013-14

1.7.2   Background Documents

None.

IS THIS A KEY DECISION REPORT?                  THIS BOX MUST BE COMPLETED   x     Yes                                               No     If yes, this is a Key Decision because: ……………………………………………………………..   …………………………………………………………………………………………………………………………….     Wards/Parishes affected: …………………………………………………………………………………..   ……………………………………………………………………………………………………………………………..