This report provides an update on progress to complete the audit of the Council’s Final Accounts for 2019/20 and the preparation for the 2020/21 and 2021/22 accounts.

Mark Sanders, Chief Accountant,submitted a report on the progress made towards the completion of the audit of the Council’s Final Accounts for 2019/20 and the preparation for the 2020/21 and 2021/22 accounts.

The report outlined the progress made by both the Council’s Finance team and the ExternalAuditor’s (Ernst & Young’s) team since the last meeting. The report explained that increased resources had been allocated to complete residual work on the 2019/20 accounts and to begin the audit of the 2020/21 accounts. The goal being to bring the whole accounts process up to date.

In relation to the 2019-20 accounts, it was noted that all information and explanations had been provided to the External Auditor (EY) who are now in the final stages of presentational adjustments had been made to the draft accounts to ensure the accounts were of a suitable audit quality. Where relevant appropriate adjustments had also been made to later years’ accounts in a bid to improve efficiency during future years’ audits.

At the meeting Mark Sanders updated the Committee that, as of 27 September 2022, the Statement of Accounts for 2020-21 had been published on the Council’s website for statutory public inspection. The report explained that the external audit of the 2020/21 accounts had commenced at the start of August 2022 and regular meetings had been taking place with EY to track progress and to ensure that audit requests were being met.

The report explained that the first stage in the production of the 2021/22 accounts had been completed following the closure of the annual management accounts and the receipt of asset and pension valuations from external advisors. Although the focus had been on the 2020/21 process, many of the working papers for both 2020/21 and 2021/22  financial years were being prepared and reviewed concurrently. The intention being for the 2021/22 Statement of Accounts to be made available for public inspection in January 2023 to coincide with the external audit work commencing, subject to agreement with EY.

The report included a timetable which included estimated completion dates for the various stages of the audit process for the 2019/20, 2020/21 and 2021/22 accounts. The report confirmed the plan to bring the accounts process back up to date with the 2022/23 accounts process concluding in September 2023. This would be dependent on the incremental successful approval of each year’s accounts and on resources being available to both Council and EY staff.

Resolved:     The Committee noted the progress made on the audit of the accounts for 2019/20, and the preparation for following years’ 2020/21 and 2021/22 accounts.