AUDIT FINDINGS REPORT

 

To:                               Governance and Audit Committee – 20 September 2016

 

Main Portfolio Area:    Financial Services and Estates

 

By:                               Director of Corporate Resources and S151 Officer

 

Classification:              Unrestricted

 

 

 

Summary:                  To provide Governance and Audit Committee with the audit findings reports which summarise the findings from the 2015/16 audit.

 

For Information

 

 

1.0       Introduction and Background

 

1.1         The Accounts and Audit (England) Regulations 2015, require the Governance and Audit Committee to approve the accounts by 30 September.

1.2         The draft Statement of Accounts for 2015/16 have now been audited and an audit findings report has been issued by the Council’s External Auditors Grant Thornton.

 

2.0       The Current Situation

 

2.1       The audit findings report (Annex 1) highlights the key matters arising from the audit of the Thanet District Council’s financial statements for the year ended 31 March 2016.  It is also used to report the audit findings to management and those charged with governance in accordance with the requirements of International Standard on Auditing 260 (ISA).

 

3.0       Corporate Implications

 

3.1       Financial and VAT

 

3.1.1    There are no financial or VAT implications arising directly from this report.

 

 

3.2       Legal

 

3.2.1    The Council has a statutory responsibility under the Accounts and Audit Regulations to publish the 2015/16 accounts by 30th September 2016, together with the auditor’s report.

 

3.3       Corporate

 

3.3.1    Under the Local Code of Corporate Governance accepted by Cabinet on 10 November 2004, the Council is committed to publish and make available reports that give an objective and understandable account of its activities, achievements, financial position and performance.

 

3.4       Equity and Equalities

 

3.4.1    There are none identified within this report.

 

4.0       Recommendation(s)

 

4.1       That Members note content of the reports.

 

            

 

Contact Officer:

Tim Willis – Director of Corporate Resources and S151 Officer

Reporting to:

Madeline Homer – Chief Executive

 

Annex List

 

Annex 1

Audit Findings Report from Grant Thornton

 

Corporate Consultation Undertaken

 

Finance

Matthew Sanham – Interim Head of Financial Services

Legal

Tim Howes – Director of Corporate Governance