Issue - meetings

The Head of Strategic Finance and Property introduced his covering report. He said that the External Auditor would follow his introduction to present their report, which would set out the provisional planning of their delayed audit of the 2021/22 statement of accounts.

The External Auditor presented her report which she said she would take as read, but highlighted three items; risk, materiality and value for money.

The External Auditor referred to page 138 of the report and said that primarily the risks identified for 2021/22 were largely similar to those identified in 2020/21.

The External Auditor drew Members’ attention to the fraud risks identified in the report, giving further explanation on each risk and setting out the audit strategy and approach.  

The External Auditor referred to page 140 of the report and said that the use of the figure of 2% of gross revenue expenditure for 2021/22 was in line with the prior year. She said that the use of 50% of materiality was a decrease from the prior’s figure of 75% due to the feedback of errors found.

The External Auditor said that with regards to value for money, risk assessment procedures were ongoing.   

The External Auditor gave an update to the 2021/22 audit which commenced in January 2023. She said to date 73% of procedures were in review or completed, and that Auditors were in constant communication with the Council’s Finance Team alongside checking the portal for receipt of new information.

The Chairman thanked the External Auditor for her report and asked Members if they had any questions.

Councillor Jacobs referred to page 166 of the report and asked for clarification that the 2021/22 audit would be completed by June 2023.

The External Auditor said that completion of the 2021/22 audit had been slightly pushed back from June 2023 to September 2023 due to national issues and outstanding portal requests. She said that the target was to bring an Audit Results Report to the next meeting of the Committee in September 2023.  

RESOLVED – that the External Auditor’s Provisional Audit Planning Report 2021/22 be received.