This report provides an update on the audit of the Council’s Final Accounts for 2020/21 and seeks approval for them to be signed off by the Director of Finance, in consultation with the Chair of the Audit and Governance Committee.

The Committee received a report on the progress of the audit of the Council’s Final Accounts for 2020/21, as it neared completion.  The report also gave a progress update on the 2021/22 accounts. 

The 2020/21 audit of accounts was substantially complete and the Council’s finance team had continued to amend and update the accounts in line with discussions and findings highlighted by the External Auditors. There were now no material issues outstanding.  The Council was anticipating an unqualified audit opinion for 2020/21, subject to the completion and review of EY’s audit work.  The report sought approval for the audit of accounts 2020/21 to be signed off by the Director of Finance (S.151 Officer), in consultation with the Chair of the Audit and Governance Committee.

The report also stated that the draft 2021/22 accounts were on track to be produced by the end of October 2023 and would incorporate all changes from the 2020/21 audit.  This would enable the Council to progress immediately into the 2021/22 audit process with the intention of having them signed off early next Spring.  This would provide a good platform to continue the accounts preparation work and begin the collation of the 2022/23 accounts in line with the objective of returning to a timely position on the preparation of accounts within statutory deadlines.

Resolved:      

(1)           That the progress made and findings to date on the audit of the accounts for 2020/21 and production of the 2021/22 accounts be noted;

(2)           That the Director of Finance, as S.151 Officer, in consultation with the Chair of the Audit and Governance Committee, be authorised to sign off the 2020/21 Accounts, on the conclusion of the audit.