Issue - meetings

Report of Director of Resources enclosed.

Georgia Jones, Key Audit Partner submitted a report on behalf of Grant Thornton which outlined their audit findings and key matters arising from the audit of the Council’s financial statements for the year ending 31 March 2021.

She reminded members that:

Under International Standards of Audit and the National Audit Office, Grant Thornton are required to report on whether the Council’s financial statements give a true and fair view of the Council’s financial position and its income and expenditure for the year.

She informed Committee that:

·         The audit had been prepared in line with the appropriate codes of practice.

·         Their work is substantially complete, and subject to the outstanding matters set out in the report, including receipt of the management representation letter and review of the final set of financial statements, currently there were no matters that would require modification of their audit opinion.

·         Grant Thornton anticipated providing an unqualified opinion on the financial statements subject to the outstanding matters being resolved and that there were no significant issues to be brought to Committee’s attention.

·         Regarding the value for money conclusions this work had not yet been completed, however, they expected to issue their Auditor’s Annual Report by January 2022, which is in line with the National Audit Office’s revised deadline.

·         There was no anticipated impact on their audit opinion and their proposed opinion would remain unmodified in respect of a going concern.  

Georgia asked to put on record her thanks to the Head of Financial Services and his team for their work.

RESOLVED:

The Chairman thanked Grant Thornton for this report.