Issue - meetings

This report sets out the approach being taken by the Council’s external auditors, Grant Thornton, to the audit of the accounts for 2016/17.

The Committee endorsed the External Audit Plan Year ended 31 March 2017.

(Mr. Ade O Oyerinde, Manager, Grant Thornton, in attendance)

(Mr. Ade O Oyerinde, Manager, Grant Thornton, in attendance)

The Committee received and considered a report which set out the approach to be taken by the Council’s external auditors, Grant Thornton, to the audit of the accounts for 2016/17.

The Committee noted that the Audit Plan had been prepared for the benefit of the Committee as the body charged with governance.  It provided an overview of the planned scope and timing of the audit as required by international audit standards and was designed to help members understand the consequences of the auditors’ work, to discuss issues and identify any areas in which more information might be required.

Mr. Oyerinde highlighted the significant risks stated on page 6 of the audit plan.  He reassured the Committee that the two risks identified were standard and prevalent across all audits conducted by the external auditor.  He further highlighted that Grant Thornton had not identified any significant risks arising from the initial risk assessment in relation to the Value for Money (VfM) conclusion.  He also confirmed that Grant Thornton was working together with the finance team to achieve the successful early closure of the accounts required by the 2015 Audit Regulations next year: As a dry run auditors would be on site from the second week in July with a view to producing a draft report by August.

Accordingly, the Committee endorsed the External Audit Plan Year ended 31 March 2017.