Issue - meetings

The report of the Executive Manager – Finance and Corporate Services

Mr Andrew Bush, a Director at KPMG, the Councils external auditors, provided a report that summarised their plan for external audit activity with regard to the final accounts process and their approach to value for money work in relation to the financial year 2017/18.

Mr Bush highlighted a number of risks concerning the audit, focusing on both financial statements and value for money. Mr Bush provided examples in respect of pension liability, financial resilience and ensuring that our accounts are closed down in a timely manner given the tighter constraints in the new legislation commencing this year.

The Executive Manager – Finance and Corporate Services provided supporting information and noted that due to new legislation the audit cycle had now changed which meant that Statement of Accounts was now required to be approved by Council by the end of July, rather than by the end of September, as in previous years. It was noted the conclusion of the work undertaken by KPMG, the final Statement of Accounts, and the auditors Annual Governance Report, are to be considered by Corporate Governance Group on the 17 July 2018 and by Council on 26 July 2018. Members of the Group asked several specific details about the plan.

The Chairman and members of the Group thanked Mr Bush for attending and answering their questions.

It was RESOLVED that the External Audit Plan 2017/18 be supported.