The Committee considered a report on the
External Audit update for 2020-21 as set out in paragraph 1.1 of
the report. The Redmond review of local
authority financial reporting ad external audit was attached as
Appendix 1 to the report.
The Head of Finance in presenting the report
informed Committee Members that the external auditors were not yet
in a position to present the plan which outlines their proposed
approach to planning and delivering their audit and the fees for
the 2020-21 financial year. This to be
provided for the next meeting of the Committee.
Hassan Rohimun reported that preparatory audit
work had started and that the deadline had been moved to
1st August 2021, the plan to be presented at the next
meeting. The publication for the
audited accounts to now take place on 30th September
2021 instead of 31st July 2021.
The Committee’s attention was drawn to
the Redmond review at Appendix 1 attached to the report, which had
been requested by Members at the last meeting.
Hassan Rohimun presented the document and
highlighted the findings and recommendations from the review, which
included the creation of a new body, the Office of Local Audit ad
Regulation (OLAR) to manage and oversee and regulate local audit
and a review of the current fee structure for local
audits. The response from MHCLG on the
recommendations were also highlighted.
Hassan Rohimun also commented on how this will effect the audit of
the City Council.
Members questioned the level of fees the
authority would have to pay in view of the move of the deadline for
RESOLVED: That the
Committee notes the external auditor’s update on the
Audit Plan for 2020-21;
Value for Money audit requirements; and
The Redmond Review of the local authority financial reporting
and external audit.