Agenda item

The Committee will receive a report supplementing the Annual Audit Letter describing how the External Auditors will deliver the financial statements and audit work for the Council and setting out the approach to Value for Money work for 2015/16.

Ms C Partridge, Director (KPMG) provided the Audit Committee with a copy of the External Audit Plan for 2015/16.  The report supplemented the Audit Fee Letter 2015/16.  It was highlighted that there are no significant changes to the Code of Practice on Local Authority Accounting in 2015/16, which provides stability in terms of the accounting standards the Authority needs to comply with.  The team had changed but a seamless service was still provided.  There are now 3 new sub-criterion in respect of achieving value for money, as set by the National Audit Office for NHS organisation, other Local Authorities and private sector organisation.  Consolidation of subsidiaries and Minimum Service Provision have been identified as significant risks.  The former, which is not a materiality issue, will be audited and the latter will come to the next Audit Committee meeting.     

RESOLVED:

(i)         That the report be noted.