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Issue - meetings

External Audit Progress Report

Meeting: 27/07/2021 - Audit Committee (Item 15)

15 External Audit Progress Report (01:15:00) pdf icon PDF 3 MB

To receive a report from Grant Thornton providing an update on progress in delivering their responsibilities as the Council’s external auditors.

Minutes:

The Committee had before it, and NOTED, a report * from Grant Thornton providing an update on progress in delivering their responsibilities as the Council’s external auditors.

 

The following was highlighted within the report:

 

·         It was confirmed that they had received the draft accounts and their audit had commenced in the previous month.

·         There was still work to do in relation to the Devon Pension Fund, however, their audit findings would be presented to the September Committee.

·         The concept of ‘Management over-ride of controls’ was described as being the processes and controls in place in areas such as journals and estimates to prevent management intentionally misstating transactions. The external auditors would be undertaking a review of this area to assess whether there had been any management bias.

 

Note: * Report previously circulated; copy attached to the signed minutes.