Issue - meetings

To consider a report of the Director of Finance.

The Deputy Executive Leader / Director of Finance submitted a report highlighting the key matters arising from Grant Thornton’s audit of the 2017/18 financial statements of both Tameside MBC and Greater Manchester Pension Fund, which Grant Thornton was required to report under the Audit Commission’s Code of Audit Practice and the International Standard of Auditing.  The report also incorporated the annual Value for Money conclusion.

It was explained that, the external audit of the Council’s accounts was substantially complete and subject to conclusion of some areas of work.  Grant Thornton anticipated issuing an unqualified audit opinion by the deadline of 31 August 2018.  There were two amendments to the financial statements, which were not material and did not have a fundamental impact on the financial position of the Council.  A number of other presentational amendments had been agreed, which improved the overall quality and presentation of the Statement of Accounts.

With regard to the external audit of the Pension Fund accounts, it was reported that it was substantially complete and subject to clearance of outstanding queries.  Grant Thornton anticipated issuing an unqualified audit opinion following the Overview (Audit) Panel meeting.  There were no amendments to the financial statements.  A number of presentational amendments had been agreed, which improved the overall quality and presentation of the Statement of Accounts.

The report contained copies of the letters of representation for both Tameside MBC and Greater Manchester Pension Fund, which would be signed following the meeting and forwarded to Grant Thornton.  The report detailed the value for money conclusion, which was set out in the Audit Findings Report as appended to the report.

Members thanked the Grant Thornton representatives and asked for their thanks to be extended to all staff that had been involved in the external audit.

RESOLVED:

(i)        That the content of the report be noted;

(ii)       That the adjustments and presentational changes to the accounts, as detailed in the Audit Findings report as appended to the report be agreed;

(iii)      That the value for money conclusion included in the Audit Findings report, as appended to the report be noted; and

(iv)      That confirmation be given that the Council has complied with all matters set out in the Letter of Representation and ensure that a signed copy is forwarded to the External Auditor.