Meeting to be held on 28 November 2023
External Audit Findings Report
(Appendix 1 refers)
Contact for further information:
Steven Brown - Director of Corporate Services – Telephone Number 01772 826804
Executive Summary
The external auditor is required to produce an Audit Findings Report summarising the conclusions from their work undertaken as part of the year-end audit of accounts. As highlighted in the report work is substantially complete and subject to resolution of some outstanding matters there are no matters which require modification of the audit opinion or material changes to the financial statements.
The Value for Money (VFM) work has not yet been completed so the external auditor is not yet in a position to issue the Auditors Annual Report; this is expected to be reported by December 2023.
Recommendation
The Committee is asked to note and endorse the matters raised in the report and two recommendations and management responses on page 26 of the report.
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Information
Under the statutory Code of Audit Practice for Local Government bodies our external auditors Grant Thornton are required to issue a report to those charged with governance summarising the conclusions from their audit work. This draft report, known as the Audit Findings Report, is attached as Appendix 1, and will be presented by the Audit Manager.
The report sets out that the audit is substantially complete. There are two recommendations that are agreed by management; one relating to a review of the fixed asset register to ensure excess depreciation is not charged against fully depreciated assets and to consider if the general ledger can be updated to include additional journal details which has now been implemented.
The report sets out the matters still outstanding and that the VFM work will be reported before the end of the calendar year.
Financial Implications
Audit fees are set out in the appendix.
Business Risk Implications
None
Environmental Impact
None
Equality and Diversity Implications
None
Human Resource Implications
None
Local Government (Access to Information) Act 1985
List of Background Papers
Paper:
Date:
Contact:
Reason for inclusion in Part 2 if appropriate: N/A