Issue - meetings

Warwickshire County Council 2023/24 Audit Findings Report

Meeting: 28/11/2024 - Audit and Standards Committee (Item 2)

2 Warwickshire County Council Audit Findings Report 2023/24 pdf icon PDF 62 KB

Additional documents:

Minutes:

The Committee received a report from the Council’s External Auditor, Grant Thornton, which provided details of issues arising from the audit of the County Council’s financial statements prior to issuing a final opinion.

 

Avtar Sohal (Grant Thornton) introduced the report, stating that the External Auditor had benefitted from a high standard of information from the Council. The audit had been substantially completed. There were some residual areas which required attention. However, it was expected that Grant Thornton would issue an unmodified opinion following the meeting of full Council in December 2024.

 

In response to the Chair, Avtar Sohal provided an update on the various outstanding matters for consideration. Progress was being made, and the process was following its prescribed course. There were no significant weaknesses or key recommendations which would require any modification of the audit opinion. There had been no substantial changes to Grant Thornton’s approach since issuing the Audit Plan.

 

The Chair stated that the findings of the External Auditor were positive. It was promising that it was anticipated to issue an unqualified audit opinion.

 

Councillor Feeney highlighted commentary in Grant Thornton’s Audit Findings report relating to compliance with password policies. She sought officers’ views of whether specific action was required in response to the External Auditor’s observations.

 

Andrew Harper (Head of Strategic Finance) advised that a separate report had been received from Grant Thornton outlining IT audit considerations. The External Auditor’s findings were being acted upon by officers, and there were no concerns.

 

Avtar Sohal stated that Grant Thornton’s findings relating to IT were not significantly material. These were low-level control recommendations intended to improve best practice. It had not been found that the Council’s IT systems showed any significant weaknesses.

 

Robert Zara highlighted a small typographical error within the draft Letter of Representation. Section xiii (b) stated that “the financial reporting framework permits the entry to prepare its financial statements on the basis of the presumption set out under a) above”. He suggested that this should read “the financial reporting framework permits the entity to prepare its financial statements on the basis of the presumption set out under a) above”. A similar adjustment would be needed for the draft Letter of Representation for the Warwickshire Pension Fund.

 

Avtar Sohal stated that this was a typographical error which would be corrected on both draft letters of representation.

 

In response to Chair, members of the Committee agreed that the recommendations of the report be accepted.

 

Resolved:

 

That the Audit and Standards Committee:

 

1.     Notes the Audit Findings Report of the External Auditors for Warwickshire County Council, attached at Appendix A of the report; and

2.     Approves, subject to any changes which may be necessary to the final draft, the wording of the Letter of Representation, attached at Appendix B.