Issue - meetings

Mark Surridge (Mazars Director - Audit & Assurance) presented the Mazars Audit Strategy Memorandum for the year ending 31^st March 2022. The report included:

1.  Engagement and responsibilities summary

2.  Audit engagement team

3.  Audit scope, approach and timeline

4.  Significant risks and other key judgement areas

5.  Value for money

6.  Fees for audit and other services

7.  Commitment to independence

8.  Materiality and misstatements

The Mazars Director - Audit & Assurance drew Members’ attention to the ‘Wider reporting and electors’ rights’ heading in section 1, and explained that the Local Audit and Accountability Act 2014 required Mazars to give an elector (or any representative of the elector) the opportunity to question them about the accounting records of the Council.

He explained that the financial statements were planned for completion by November 2022, and he was confident this target would be met potentially by the end of September. He also explained that section 4 outlined some of the risks relevant to the audit of financial statements, which were:

1. Management override of controls

2. Net defined benefit liability valuation

3. Valuation of land, building, council dwellings and investment properties

The Treasurer left the meeting at this point.  The Principal Accountant joined the meeting at this point.

Members thanked the Mazars Director for his report.

RESOLVED that the report of the External Auditor be noted.