Posted: Tue 22nd Sep 2015

Audit Committee to Approve Statement of Accounts 14/15 and Annual Report

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This article is old - Published: Tuesday, Sep 22nd, 2015

The Council’s Audit Committee will meet on 24th September to discuss reports relating to the Council’s financial affairs, audit matters, risk management and governance arrangements.

The Audit Committee is a statutory committee which is required to review the council’s financial affairs, risk management, internal control and corporate governance arrangements.

The Audit Committee will be asked to approve the Statement of Accounts for the financial year 2014/15. The audit of this is substantially complete and the Council’s external auditors, the Wales Audit Office, intend to issue an unqualified audit opinion. The Statement will be published before 30 September 2015 and will be available on the Council’s website.

The Audit Committee will also consider the 2015 Annual Improvement Report by the Auditor General for Wales, who is required to report annually on how well the Council is planning for improvements and delivering its services. Overall the conclusion is that that the Council has continued to make good progress against the majority of its improvement objectives, strengthened its corporate arrangements and maintained its track record of strong financial control.

The Chair of the Audit Committee, Jerry O’Keeffe, commented on the above two reports: “It is encouraging that in view of the huge financial challenges faced by the Council that there are two reports by the external auditor which indicate the robustness of its accounting and financial management arrangements.

“Of course, there is no room for complacency and the Audit Committee will strive to ensure that financial management remains strong and also that any areas where improvements to services are required are properly addressed”.

Further reports will also be considered relating to Internal Audit work completed during April to August 2015 and a summary of the Council’s risk registers. Internal Audit undertake regular planned audits of the Council’s financial systems, key governance processes and services.

Mr O’Keeffe said that “Internal Audit provides the Audit Committee with independent assurance that controls within service areas are effective. Where they are not, the Audit Committee can and does take further action, including calling senior officers and Councillors to account.

“It is vitally important that the Council is aware of its major risks and the Audit Committee must obtain assurance that these risks are being managed effectively. The Council must act responsibly and understand the main risks to achieving the Council Plan.”

The Audit Committee will also consider national reports produced by the Wales Audit Office over 2014/15, so as to determine the Council is adequately responding to them, and the Wales Audit Office will also update the Committee on current and planned external audit and inspection work.



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