Decision details

In debating the fact that Ernst and Young had revised the timetable for the 2018/19 Accounts and Audit, with completion during September 2019 rather than by 31 July 2019, the Associate Partner (Ernst and Young) and the Assistant Director (Finance and Estates) replied to a series of Members’ questions and comments as follows:

·      Ernst and Young would be “front loading” as much audit work as possible during the end of July/early August, so as not to run too close to the September 2019 Committee deadline for completion of the work;

·      The Council would still be able to publish its Accounts by the end of July 2019 (albeit with no audit opinion);

·      There was a strategic risk to the Council, although experience had shown that audits generally raised valuation issues rather than income/expenditure issues;  there was potentially more risk in terms of SBC staffing/resourcing resilience in support of the audit;

·      The Ernst and Young audit team was now in place to deliver the audit by the September 2019 deadline, and a Project Plan was to be submitted to the Assistant Director (Finance and Estates); and

·      There was a discussion on the sustainability and future challenges facing public sector audit;  the Assistant Director (Finance and Estates) would reflect the Council’s views in her representation to the Society of Local Authority Treasurers, and it was confirmed that Ernst and Young were engaging proactively in the future reviews into the audit market.

It was RESOLVED that the revised Accounts and Audit Timetable for 2018/19, as set out in the letter from Ernst and Young dated 26 April 2019, be noted.