Issue - meetings
Statement of Accounts and Audit Opinion
Meeting: 21/11/2024 - Audit and Governance Committee (Item 307)
307 Statement of Accounts and Audit Opinion 
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This report updates members on the progress of the external audit of the Council’s 2023/24 Statement of Accounts and Audit opinion.
That the Audit and Governance Committee resolves to:
1. Note the progress of the audit and the update provided on the receiving the audit findings and opinion.
2. Delegate authority to the Deputy Chief Executive & Section 151 Officer and the Chair of Audit and Governance Committee to receive and sign the audit opinion (subject to a copy of the audit finding report and audit statement of accounts being circulated to all members of the committee for comment and endorsement).
Additional documents:
Minutes:
The Deputy Chief Executive Officer introduced the report on the Statement of Accounts and Audit Opinion. There had been steady but relatively slow progress on the development of the audit opinion for 2023/24. The audit opinion was expected to be produced in good time before the backstop date of 28 February 2025. The report sought a delegation to receive and sign off the audit opinion, subject to the papers being circulated to all Members of the Audit and Governance Committee at least a week prior to the delegation being exercised.
In response to a question about Bishop Fleming being the Council’s new auditor and new to the public sector, the Deputy Chief Executive stated that each external auditor would take their own approach based on the risks that they identify. While they would have due regard to the approach and findings previous auditors, they would make their own assessment.
The Committee questioned what would happen if the backstop date was missed. The Deputy Chief Executive replied that there would be reputational damage but no financial penalty.
The Audit and Governance Committee resolved to:
- Note the progress of the audit and the update provided on the receiving the audit findings and opinion.
- Delegate authority to the Deputy Chief Executive & Section 151 Officer and the Chair of Audit and Governance Committee to receive and sign the audit opinion (subject to a copy of the audit finding report and audit statement of accounts being circulated to all members of the Committee for comment and endorsement).