Agenda item - Audited Statement of Accounts 2019/20

skip navigation and tools

Agenda item

Audited Statement of Accounts 2019/20

Report of the Acting Executive Director, Finance & Resources

Decision:

That the Audit & Standards Committee:

                    

1)             Notes the findings of the auditor (Grant Thornton) in their Audit Findings Report (AFR). The AFR is a separate item on this agenda.

 

2)             Notes the results of the public inspection of the accounts (Section 5).

 

3)             Approves the Letter of Representation on behalf of the council (Appendix 1).

 

4)             Approves the audited Statement of Accounts for 2019/20 (Appendix 3).

 

5)             Agrees that any material difference resulting from the outstanding audit query on the valuation of Council Dwellings should be adjusted before publication of the accounts.

Minutes:

24.1      The Committee considered a report of the Acting Chief Finance Officer that provided information about the audit of the council’s 2019/20 Statement of Accounts and recommends approval of the 2019/20 audited accounts and the Letter of Representation on behalf of the council.

 

24.2      The Committee considered the Audit Findings Report (AFR) that summarised the findings of the 2019/20 audit by the council’s appointed auditor, Grant Thornton, which was substantially complete. It included the key messages arising from the audit of the financial statements and the results of work undertaken to assess the Authority’s arrangements to secure value for money in its use of its resources.

 

24.3      In response to a question from Councillor Bagaeen, the external auditors explained that there was a potential underestimate on the increase in value of some properties not included in the rolling programme of ‘beacon’ valuation. In their view, that could cause a potential misstatement in the accounts if left unadjusted. The Head of Finance stated that the council would adjust the figures accordingly in the statement of accounts should the advice to do so be received from Grant Thornton as the council’s external auditor.

 

24.4      RESOLVED- That the Audit & Standards Committee:

                    

1)             That the Audit & Standards Committee note the findings set out in the 2019/20 Audit Findings Report.

 

2)             Notes the results of the public inspection of the accounts (Section 5).

 

3)             Approves the Letter of Representation on behalf of the council (Appendix 1).

 

4)             Approves the audited Statement of Accounts for 2019/20 (Appendix 3).

 

5)             Agrees that any material difference resulting from the outstanding audit query on the valuation of Council Dwellings should be adjusted before publication of the accounts.

Supporting documents:

 


Bookmark this page using:

Find out more about social bookmarking

These sites allow you to store, tag and share links across the internet. You can share these links both with friends and people with similar interests. You can also access your links from any computer you happen to be using.

If you come across a page on our site that you find interesting and want to save for future reference or share it with other people, simply click on one of these links to add to your list.

All of these sites are free to use but do require you to register. Once you have registered you can begin bookmarking.

Brighton & Hove City Council | Hove Town Hall | Hove | BN3 3BQ | Tel: (01273) 290000 | Mail: info@brighton-hove.gov.uk | how to find us | comments & complaints