46 Grant Thornton - Report of Financial Resilience (00:53:52) PDF 307 KB
To receive a report from Grant Thornton summarising the findings from their work supporting their Value for Money conclusion which is required as part of the statutory external audit responsibilities.
Minutes:
The Committee had before it, and NOTED, a report from Grant Thornton summarising their findings from the work supporting their Value for Money conclusion. This report complimented their Audit Findings report as presented on 28 July 2015 by providing additional detail on the themes that underpin their Value for Money conclusion.
Discussion took place regarding:
· Staff sickness – there had been a few instances of long term sickness which had the effect of distorting the overall figures which were showing above target. The external auditors had identified this as a potential risk to the organisation. A Member briefing would be held on 1 December 2015 providing more information on this subject.
· Financial planning had improved.
· Member engagement had also improved with a now larger trained Audit Committee.
Note: * Report previously circulated; copy attached to the signed Minutes.