To consider the attached report from the Audit Commission.
The committee considered the Audit Commission’s 2010/11 opinion audit on changes the council could expect to see in external audit activities. The Audit Commission, as part of its changing role, would no longer be giving the council a scored assessment on its use of resources. However, it would assess whether the council provided value for money. This would concentrate on arrangements for securing:
· financial resilience (looking at financial systems, controls, and forward planning) and
· challenging how the council secured economy, efficiency, and effectiveness (looking at how the council prioritised resources, and improved efficiency and productivity)
The Audit Commission would continue to audit the council’s accounts, but to the new international financial reporting standards. There was a requirement to evaluate the council’s accounting estimates, and to identify any deficiencies in the council’s internal control procedures.
RESOLVED: to note the Audit Commission’s 2010/11 opinion audit on changes the council could expect to see in external audit activities.