Agenda item

Report of the Managing Director

The Managing Director submitted a report (previously circulated) providing Members with information on the outcomes of the external audit by Ernst and Young LLP (EY), of the Council’s accounts for the year ended 31 March 2020.

It was reported that, in accordance with statutory requirements, which had been updated for (Coronavirus)(Amendment) regulations 2020, EY had audited the accounts and a copy of the report which outlined the results of their findings from the audit were outlined in the audit plan presented to this Committee in September 2020.

Helen Henshaw and Michael Mason from EY advised Members that the audit work on the accounts had been completed and that an unqualified opinion on the Council’s 2019/20 accounts would be issued; concluded that the Council had put in place proper arrangements to secure economy, efficiency and effectiveness of its use of resources; and confirmed that the Council’s Annual Governance Statement was not misleading or inconsistent with other information known to them.

Members gave specific consideration to items that were classified as unadjusted audit differences in relation to Assets Held for Sale and the Private Finance Initiative.

It was also noted that EY had not raised any significant matters in relation to any significant deficiencies in internal control.

RESOLVED - (a)  That the Auditors Audit Results Report on the Council’s 2019/20 financial statements be noted.

(b)  That Members note the Letter of Representation in Appendix B of the Audit Results Report.

(c) That the Audit Committee agree not to amend the unadjusted audit differences as they were not material.

(d) That the Audit Committee approve the IFRS complaint Statement of Accounts for the 2019/20 financial year.