Issue - meetings

Mr Paul Dossett of Grant Thornton presented the External Auditor’s report providing an update on progress with the audit of the 2021/22 Statement of Accounts and a summary of emerging national issues and developments of relevance to the local government sector. 

It was noted that various accounting issues had held up the completion of the 2020/21 audit; for example, the appropriate accounting treatment for construction costs relating to the Brunswick Street and Union Street housing developments.  Amendments had been made to the accounts as a result of this work and these would need to be worked through into the 2021/22 accounts.  The process had been reversed for the 2021/22 audit so that the technical accounting issues are addressed up front.  It was hoped that the work would be completed by March, and the External Auditor was working with the Council to achieve that.

In response to a question about the stability of the workforce, Mr Dossett explained that there were still major recruitment and retention challenges.  The audit profession was heavily regulated, and it was difficult to recruit people from within this country.  Grant Thornton was recruiting a lot of people from abroad, but it was a slow process and the market was not yet stable in terms of audit being a sought after, long-term profession.

RESOLVED:  That the External Auditor’s progress report and sector update, attached as an Appendix to the report of the Senior Finance Manager (Client), be noted.