The Committee received an update on the Council’s External Audit which had not yet been completed. Approximately 40% of Local Government audits had not been finalised on time this year. Leigh Clarke, Finance Director, stated that no further adjustments or issues had been raised. The Committee noted that the Council’s External Auditor, BDO, had emphasised the delay was not to the detriment of the Council. Substantive Audit work had taken place in the areas of asset valuation and pension fund valuation.
It was noted that a comment had been made by the External Auditors at the last meeting of the Committee regarding the presentation of the accounts, however due to the staff time taken up by the Audit process and the extent of the readership of the Accounts Leigh Clarke stated that a major change to the formatting would be hard to justify.
The Committee was advised that the delayed Audit would not affect the budget setting process for the next financial year. The Committee would be advised once the Accounts had been formally signed off following the completion of the Audit.
RESOLVED
That the update be received.