Issue - meetings

Miss Ellie Dunnet, the Head of Finance, introduced her report setting out the findings of the External Auditor’s work on the 2017/18 financial statements audit and value for money conclusion. 

Miss Dunnet advised the Committee that the Statement of Accounts reflected changes that were identified during the course of the audit and also incorporated suggestions made by Members during the briefing session held in June.  The Annual Governance Statement attached as Appendix A to the accounts should be the later version agreed by the Committee earlier in the meeting.  The Council was required to have its audited Statement of Accounts approved by the Audit, Governance and Standards Committee by 31 July in accordance with the Accounts and Audit Regulations.

Mr Matt Dean of Grant Thornton presented the External Auditor’s Audit Findings Report.  He informed the Committee that it was proposed to issue an unqualified audit opinion and value for money conclusion.  The rest of the report covered the risks considered during the audit work (no significant issues had been identified in relation to any of these areas) and the significant risks identified in relation to the value for money conclusion, including the risks identified around the Council’s Medium Term Financial Plan.  Overall the External Auditor was satisfied with the Council’s position.  The Council had a good track record of delivering its plans over recent years which meant that it was well placed to deal with the challenges ahead.

In response to questions, Mr Dean said that the accounts reflected the standard of preparation by the Head of Finance and her team and that the Council needed to focus on the future given the uncertainty surrounding local government funding.  Brexit was a consideration, but the implications were as yet unknown.

Mr Mark Green, the Director of Finance and Business Improvement, advised the Committee that uncertainty surrounding issues such as Brexit was addressed in the Medium Term Financial Strategy and the Council’s risk management processes.

The Chairman thanked the Finance Team for their ongoing work to improve the presentation of the accounts and make them more understandable.

RESOLVED:

1.  That the External Auditor’s Audit Findings report be noted.

2.  That subject to the incorporation of the final version of the Annual Governance Statement agreed earlier in the meeting, the audited statement of accounts be approved.

3.  That the Letter of Representation from the Council to the External Auditor be approved.