Your Councillors


AUDIT, GOVERNANCE & STANDARDS COMMITTEE

Monday 21st March 2016

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

Yes

 

External Auditorís Audit Plan 2015/16

 

Final Decision-Maker

Audit, Governance & Standards Committee

Lead Head of Service

Head of Finance & Resources

Lead Officer and Report Author

Paul Holland, Senior Finance Manager Ė Client Accountancy

Classification

Public

Wards affected

N/A

 

 

This report makes the following recommendations to this Committee:

1.   It is recommended that the Audit, Governance & Standards Committee notes the External Auditorís Audit Plan as attached at Appendix A

 

 

 

This report relates to the following corporate priorities:

         Securing a successful economy for Maidstone Borough Ė delivery of value for money services.

 

 

Timetable

Meeting

Date

Audit, Governance & Standards Committee

21st March 2016



External Auditorís Audit Plan 2015/16

 

 

1.        PURPOSE OF REPORT AND EXECUTIVE SUMMARY

 

1.1     To consider the report of the External Auditor on the proposed Audit Plan

for 2015/16. Representatives from Grant Thornton UK LLP will be present at the meeting to present their report and answer any 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 is attached at Appendix A.

 

2.2     The Audit, Governance & Standards Committee is asked to note this report as part of its responsibilities in relation to external audit.

 

 

3.        PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS

 

3.1     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.

 

 

 

4.       CROSS-CUTTING ISSUES AND IMPLICATIONS

 

 

Issue

Implications

Sign-off

Impact on Corporate Priorities

The financial statements audit and value for money conclusion are a mechanism through which accountability and value for money can be demonstrated to the public.

Head of Finance & Resources

Risk Management

The audit plan helps mitigate the risk of failing to meet the statutory deadline for the audit opinion and value for money conclusion.

Head of Finance & Resources

Financial

The anticipated audit fee for 2015/16 is £64,385, which covers the financial statements audit and grant certification work.

Head of Finance & Resources

Staffing

None

[Head of Service]

Legal

None

[Legal Team]

Equality Impact Needs Assessment

None

[Policy & Information Manager]

Environmental/Sustainable Development

None

[Head of Service or Manager]

Community Safety

None

[Head of Service or Manager]

Human Rights Act

None

[Head of Service or Manager]

Procurement

None

[Head of Service & Section 151 Officer]

Asset Management

None

[Head of Service & Manager]

 

5.        REPORT APPENDICES

 

The following documents are to be published with this report and form part of the report:

         Appendix A: External Auditorís Audit Plan 2015/16

 

 

6.        BACKGROUND PAPERS

 

None

 

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