Your Councillors


AUDIT, GOVERNANCE & STANDARDS COMMITTEE

19 March 2018

 

External Auditorís Audit Plan 2017/18

 

Final Decision-Maker

Audit, Governance and Standards Committee

Lead Head of Service/Lead Director

Mark Green, Director of Finance and Business Improvement

Lead Officer and Report Author

Ellie Dunnet, Head of Finance

Classification

Public

Wards affected

None

 

Executive Summary

 

This report from the Councilís External Auditor, Grant Thornton, sets out the planned approach to delivering the audit of the 2017/18 financial statements and value for money conclusion.

 

 

This report makes the following recommendations to this Committee:

1.   That the External Auditorís Audit Plan, attached at Appendix A be noted.

 

 

 

Timetable

Meeting

Date

Audit, Governance & Standards Committee

19 March 2018



External Auditorís Audit Plan 2017/18

 

 

1.††††† INTRODUCTION AND BACKGROUND

 

1.1     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, which includes the outcomes of work undertaken to date, is attached at Appendix A.

 

1.2     Representatives from Grant Thornton will be in attendance at the meeting to present their report and respond to questions.

 

 

2.        AVAILABLE OPTIONS

 

2.1     As the committee charged with responsibility for overseeing the financial reporting process, the Audit, Governance and Standards Committee is asked to consider and note this report.† The committee could choose not to consider this report, however this option is not recommended since the report is intended to assist the committee in discharging its responsibilities in relation to external audit and governance.

 

 

3.        PREFERRED OPTION AND REASONS FOR RECOMMENDATIONS

 

3.1     The Committee is asked to note this report.† 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.       RISK

4.1     This report is presented for information and there are no decisions that would give rise to risk management implications.†

 

 

5.       CONSULTATION RESULTS AND PREVIOUS COMMITTEE FEEDBACK

 

5.1     No consultation has been undertaken in relation to this matter.

 

 

6.       NEXT STEPS: COMMUNICATION AND IMPLEMENTATION OF THE DECISION

 

6.1     Next steps are outlined within Appendix A.

 

 

7.       CROSS-CUTTING ISSUES AND IMPLICATIONS

 

 

Issue

Implications

Sign-off

Impact on Corporate Priorities

We do not expect the recommendations will by themselves materially affect achievement of corporate priorities.  However, production of the annual Statement of Accounts which is free from material or significant error is a key element of demonstrating accountability and value for money. It is therefore important that the Statement of Accounts meets this requirement.

Head of Finance

Risk Management

This report supports the committee in the delivery of its governance responsibilities.† It also helps to mitigate the risk of non-compliance with the statutory timetable for the production and audit of the annual accounts through timely communication of any potential issues.

Head of Finance

Financial

There are no direct financial implications arising from the report, although the opinion on the financial statements and value for money conclusion are one mechanism through which the Council demonstrates financial accountability.

[Section 151 Officer & Finance Team]

Staffing

None identified.

Head of Finance

Legal

None identified.

[Legal Team]

Privacy and Data Protection

None identified.

 

[Legal Team]

Equalities

The recommendations do not propose a change in service therefore will not require an equalities impact assessment

[Policy & Information Manager]

Crime and Disorder

None identified.

Head of Finance

Procurement

None identified.

Head of Finance

 

 

8.        REPORT APPENDICES

 

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

         Appendix A: External Auditorís Audit Plan 2017/18

 

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