Issue - meetings

Statement of Accounts

Meeting: 29/10/2019 - Performance, Audit and Governance Oversight Committee (Item 201)

Statement of Accounts - Presentation

A presentation will be provided by the Head of Strategic Finance and Property

Minutes:

The Financial Services Manager gave a presentation on the Draft Statement of Accounts.  The presentation provided a summary of:

 

·       why the audit process had been delayed;

·       when the off-site worked commenced and when this would finish; and

·       that, as at 29 October – 10 outstanding items were being reviewed.

 

The Financial Services Manger provided a summary of the proposed changes to the Statement of Accounts and why these had been requested by the External Auditor.  He explained that PAGO at its meeting on 19 November 2019, would be asked to approve the Statement of Accounts and seek authority for the Chairman to sign off the accounts.  The Committee would also be asked to approve that the Chairman be allowed to sign the Letter of Representation.

 

Members sought clarification on a number of issues including:

 

·       The review of 10 outstanding issues and whether these related to Council activity;

·       Whether Officers had provided all the evidence needed to conclude the review (so that further delays would be avoided);

·       The proposed change to IAS19 (Pension) required to the statement of accounts and the disclosure ruling;

·       Minor errors which had been picked up by the External Auditor;

·       Going forward, how external auditor providers were chosen;

·       Information provided to the External Auditors and comparisons to what had been provided in the past;

 

At the request of Members, the Financial Services Manager agreed to circulate the draft Audit Report to Members.

 

The Committee received the report.

 

RESOLVED – that the presentation be received.