Issue - meetings

Verbal Update by Audit Scotland

The Committee gave consideration to a verbal update from the Senior Audit Manager of Audit Scotland who outlined work undertaken to date, which included documenting the key financial systems in place; assessing the design and implementation of key controls within the key financial systems and early substantive testing covering income and expenditure. 

Mr McAulay advised that the design and implementation of controls was found to be satisfactory with the exception of the segregation of duties control in the Accounts Receivable System.  He advised that Management had agreed to implement a mitigating control in response to the issue identified and that Internal Audit would build this into their continuous monitoring programme.  Mr McAulay further advised that the audit of Financial Statements was progressing well with no significant issues identified to date.  He noted that sign off of the audit was on schedule for 24 November 2021.   

Decision

The Audit and Scrutiny Committee agreed to note the contents of the verbal update by the Senior Audit Manager of Audit Scotland.