Issue - meetings

Report by Head of Strategic Finance

The external auditors, Grant Thornton UK LLP, have completed their audit of the Council’s accounts for the year to 31 March 2008.  The audited accounts incorporating the audit certificate and the external audit report for 2007-2008 were before the Council for consideration on 27 November 2008.  The audit certificate contained no qualifications and external audit highlighted key issues for the attention of Members.

Decision

1.         To note the audited accounts, the terms of the audit certificate and the external audit report;

2.         To agree to continue to monitor the action plans agreed in the response to the individual audit reports that have been issued during the year;

3.         To note that the Head of Strategic Finance will prepare a report for the next meeting of the Committee advising on the steps being taken by the Council to move to International Financial Reporting Standards (IFRS) and the implications of this move;

4.         To note that Gary Devlin will arrange to provide to the Audit Committee the key highlights of the External Auditors IFRS training event.

(Reference: Report by Head of Strategic Finance dated 4 November 2008, Report on the 2007-08 Audit dated 31 October 2008 and Accounts for the period 1 April 2007 – 31 March 2008, submitted)