Decision details

The Committee considered an update from Karen Cunanan (Ernst & Young) in respect of Ernst & Young’s (E & Y) audit results report for SBC for 2019/20.

In response to Members’ questions, Karen Cunanan stated:

·         The intention was to have the 2019/20 SBC Statement of Accounts signed off by 31 March 2023.  The significant outstanding item of work was the outcome of internal consultation with E & Y’s professional practice department on the non-compliance with the minimum decent homes standards; and

·         The unadjusted audit differences set out in the report.  Known differences represented items that could be accurately quantified and related to a definite set of facts or circumstances.  Judgemental differences generally involved estimation and assumptions that were open to interpretation.  The total value of the unadjusted audit differences was below the accepted overall audit planning materiality figure of £1.05Million.

The Committee then received an update report from the Assistant Director (Finance) concerning the 2019/20 SBC Statement of Accounts.

It was RESOLVED that the Ernst & Young audit results report 2019/20 and the changes to the final 2019/20 SBC Statement of Accounts, as outlined in the report of the Assistant Director (Finance), be noted.