Issue - meetings

To consider the report which provides an updated provisional audit planning report by Ernst & Young LLP (EY) in relation to the proposed audit approach and the scope for the 2024/25 audit.

The committee considered the updated provisional audit planning report from Ernst & Young (EY) for the 2024/25 financial year. EY outlined the proposed audit approach and scope, noting that the final audit plan had been rescheduled from July to November 2025, with the aim of completing the audit by the February 2026 backstop date.

The committee asked questions in relation to the proposed audit approach. It was noted that the PSAA would use its fee variation process to determine the final fee that the Council would have to pay for the 2023-24 audit. The committee raised concerns in relation to the additional fees that would need to be paid for dealing with additional work as a result of the Council’s finances and objections. The scale fees for 2024-25 had increased by 8% by the PSAA to cover additional work under revised standards. It was clarified that any additional fees above set scale fees would be tested by the PSAA and the S151 Officer would be consulted and invited to comment upon them. It was acknowledged that the fees had increased significantly to reflect the cost of external audit.

RESOLVED:

That the Audit and Governance Committee

1.    Note the updated Provisional Audit Planning report by Ernst & Young (LLP) for 2024/25 and that following completion of their planning procedures, EY will update the committee on any changes in identified audit risks.