Issue - meetings

Report of the External Auditor attached.

The Committee received a report of the External Auditor detailing the progress made in the delivery of their responsibilities. The audit was progressing as expected and all interim work was completed. Plans were now being made to complete the 2018/19 final plan by mid-April.

A general sector update was also provided which provided insight on issues relevant to the Committee and accounting and regulatory updates.

The Chair highlighted a mis-type on the report provided, stating that on the Value for Money section July 2018 should be July 2019.

In response to the Chair the External Auditors explained that if the Interim Audit findings report identified anything which needed attention it would be reported back to Officers and if deemed appropriate, the Committee.

Referring to the Audit Progress Report the Vice Chair asked the External Auditors how common it was that Governance Committees should have independent members. It was explained that there is an increasing number of Independent Persons on Governance Committee’s with the purpose being to challenge Officer’s and decisions. Often the independent person is someone with a finance background and will have a slightly different perspective to a member. This was something that the Committee may wish to consider in the future. 

Members queried the article on local authority trading companies and asked for examples of these and how successful they were. The External Auditors responded that there had been successful examples of Local Authorities trading in the Affordable Housing sector, and that these authorities were smaller than South Ribble. Colleagues at Grant Thornton were available to progress this further with the Council officers if required. In the meantime detailed information would be circulated to the Committee.

RESOLVED: (Unanimously)

That the report be noted.