Issue - meetings

Summary of the External Audit findings from the 2020/21 audit. The letter will also confirm the final audit fee.

Alex Thompson, Director of Finance and Customer Services and Section 151 Officer attended the meeting to introduce the item. 

Councillor David Marren left the room at this point in the meeting.

Mark Dalton and Muhammed Uzair Khan from Mazars attended the meeting by Microsoft Teams to given further context and a brief summary of the key highlights contained within the report and then answered any questions the Committee had.

Mark thanked finance officers for a good set of accounts.

The Committee recognised the accounts were reflective of working within a pandemic, there was some discussion about whether the Council was at risk of overclaiming grants associated with Covid-19.  Mark advised that Covid grants were accurately reflected within the accounts but there were no issues identified in overclaiming.

There was some discussion about the need for further assurance on value for money, Mark advised this detail would be available inside the next two months (which was inside the three month extension allocated for the return of accounts) but acknowledged the shortage of experienced auditors within the public sector at present.

The Committee asked what approach Mazars took to governance, Mark agreed to share details of the sub criteria/key questions that are considered against the Value for Money specified reporting criteria.  These points are as follows:

Governance: how the body ensures that it makes informed decisions and properly manages its risks, including:

·         how the body monitors and assesses risk and how the body gains assurance over the effective operation of internal controls, including arrangements to prevent and detect fraud

·         how the body approaches and carries out its annual budget setting process

·         how the body ensures effective processes and systems are in place to ensure budgetary control; to communicate relevant, accurate and timely management information (including non-financial information where appropriate); supports its statutory financial reporting requirements; and ensures corrective action is taken where needed

·         how the body ensures it makes properly informed decisions, supported by appropriate evidence and allowing for challenge and transparency. This includes arrangements for effective challenge from those charged with governance/audit committee

·         how the body monitors and ensures appropriate standards, such as meeting legislative/regulatory requirements and standards in terms of officer or member behaviour (such as gifts and hospitality or declarations/conflicts of interests).

RESOLVED: That the Audit Completion Report for the year ending 31^st March 2021 be received and noted.

To report on progress against the external audit of the 2020/21 accounts.
Report to follow

Mark Dalton provided an update on the progress with the audit of the draft Statement of Accounts. 

It was reported that work was progressing well with the audit, which had been delayed due to the transition to the new financial system Unit 4 ERP in February 2021.

In order to comply with Account and Audit Regulations 2015, the Council had published a notice to state that it was unable to make the deadline of 30 September 2021 for completion of the audit.