URL: https://democracy.ribblevalley.gov.uk/ieDecisionDetails.aspx?ID=1099

Decision Maker: Accounts and Audit

Outcome:

Is Key Decision?: No

Is Callable In?: No

Purpose:

Content: The Key Audit Partner submitted a report on behalf of Grant Thornton which outlined their audit findings and key matters arising from the audit of the Council’s financial statements for the year ending 31 March 2024.   The report reminded Members that, under International Standards of Audit and the National Audit Office, Grant Thornton were required to report on whether the Council’s financial statements gave a true and fair view of the Council’s financial position and its income and expenditure for the year.   The Audit Manager informed Committee that: ·         The audit had been prepared in line with the appropriate codes of practice. ·         The audit had identified that no adjustments to financial statements were required in relation to internal recharges. ·         The auditors had completed work on the Council’s value for money (VFM) arrangements. One significant weakness has been identified for which detailed information was provided in the report. ·         Audit work on the Council’s financial statements was ongoing and Grant Thornton anticipated providing an unqualified audit opinion on the financial statements. ·         One new recommendation had been made in relation to condensing information provided in respect of transfers to/from earmarked reserves.     RESOLVED THAT COMMITTEE:   Accepted the external auditors audit findings report for year ending 31 March 2024, with the understanding that the audit was still ongoing, and a further report would be brought Committee.    

Date of Decision: November 20, 2024