Issue - meetings
2025/26 External Audit Plan
Meeting: 09/04/2026 - Audit & Governance Committee (Item 78)
78 2025/26 External Audit Plan 
PDF 530 KB
To receive the 2025/2026 Audit Plan from Bishop Fleming, the Council’s external auditors.
Additional documents:
- Annex A_ Cotswold District Council External Audit Plan 25_26, item 78
PDF 2 MB
- Webcast for 2025/26 External Audit Plan
Minutes:
The Committee received the External Audit Plan for 2025/26, introduced by the external auditor. Members were reminded that the auditor’s role, as defined by the National Audit Office Code of Practice, was to provide an opinion on the Council’s financial statements and to assess value for money arrangements.
The plan was based on initial planning work, incorporating a review of key risks, prior audit findings, and relevant internal audit outcomes, with ‘materiality’ set at approximately 2% of gross revenue expenditure (just over £1m). The auditor confirmed that significant risks remained broadly in line with previous years, including the valuation of property, plant and equipment, and noted revised accounting guidance, which now allowed local authorities to revalue assets on a five-year cycle with indexation applied in intervening years, which had been reflected in the audit approach.
Value for money work would focus on financial sustainability, governance, and economy, efficiency, and effectiveness. A potential significant risk had been identified in relation to governance linked to the previously reported procurement issues. The proposed audit timetable was outlined, including the statutory reporting deadline at the end of January, which placed pressure on both the finance and audit teams. Audit fees were also noted as being nationally determined, with any variations arising from additional work to be calculated and reported at a future Committee.