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Decision details

External Audit Plan 2019/20 (Draft)(EY)

Decision Maker: Audit Committee

Decision status: Information Only

Is Key decision?: No

Is subject to call in?: No

Decisions:

The Audit Plan set out how the external auditors intended to carry out their responsibilities; provided the Committee with a basis to review the proposed audit approach and scope for the 2018/19 audit; and also help to ensure that the audit was aligned with the Committee’s service expectations.

 

The External Auditor, in presenting the report, highlighted that a number of the risks shown such as mis-statement due to fraud or error were an inherent part of the international auditing standards and not specific to the Council.  The areas of concern related in many cases to the Council being active in a more commercial environment through its investments.  A need for a better understanding of the structure and relationships had been identified as this could have an impact on control.  The External Auditor confirmed that although some items were currently showing as red risks this reflected the current situation and would be revised once additional information had been received.

 

Members noted concern about the possible pension adjustment which had occurred during the previous audit and the increased uncertainty due to Brexit.  The External Auditor confirmed that the adjustment was likely to be included again if it represented a significant change.  Overall the materiality levels had remained the same and the overall risk on Value for Money was being met through the Council having in place “proper arrangements”.

 

The fee level had been reduced in line with the contracted agreement.  The Group Accounts would be audited and charged separately.

 

RESOLVED that the External Auditors’ proposed Audit Plan for the Year ending 31 March 2019 be noted.

Report author: Matthew Bunyon

Publication date: 19/02/2019

Date of decision: 30/01/2019

Decided at meeting: 30/01/2019 - Audit Committee

Accompanying Documents: