Issue - meetings
Statement of Accounts 2023/24 - Audit Findings Report
Meeting: 13/01/2025 - Audit Committee (Item 7)
7 Statement of Accounts 2023/24 - Audit Findings Report 
PDF 245 KB
The unaudited Statement of Accounts was presented to this committee in July 2024. This report presents the Audit Findings Report following the review carried out by Grant Thornton.
Additional documents:
- Annex 1 - Statement of Accounts, item 7
PDF 2 MB
- Annex 2 - Audit Findings Report, item 7
PDF 5 MB
- Annex 3 - Letter of Representation, item 7
PDF 166 KB
Minutes:
The report of the Director of Finance and Transformation presented the Audit Findings Report following the review carried out by Grant Thornton UK LLP on the unaudited Statement of Accounts presented to the Audit Committee in July 2024.
The current Statement of Accounts for 2023/24 were attached at Annex 1.
Members noted that the Borough Council’s responsible financial officer had certified that the Statement of Accounts presented a ‘true and fair view’ of the financial position of the local authority at the end of the year and its income and expenditure for the year.
The Audit Findings Report gave two recommendations for the Borough Council as a result of the external audit. These related to non-return of Related party transaction form by Councillors and regular review of prior years’ outstanding creditors’ balance. More detail was provided in paragraph 5.4 of the report together with the proposed management response under respective issue.
RESOLVED: That
(1) the enclosed audited set of Accounts for 2023/24 (attached at Annex 1) be received and approved and the Chair of the Audit Committee be asked to sign the Accounts in the appropriate place;
(2) the Audit Findings Report (attached at Annex 2) and the Management Response, as detailed in paragraphs 5.4 and 5.5 of the report, on the outcome of the audit of the Statement of Accounts for 2023/24, be approved;
(3) the Letter of Representation (attached at Annex 3) be approved for signature by the Chair of the Audit Committee and the Director of Finance and Transformation once Grant Thornton UK LLP had issued their opinion; and
(4) appreciation from the Audit Committee to the Financial Services, especially the Accountancy Team, be recorded for the monumental and significant efforts they had made in concluding the Statement of Accounts for 2023/24.