Agenda item - EY: PROGRESS REPORT 2014/15

Report of the External Auditors (copy attached)

48.1    The Committee considered the report of the external auditors EY. The report was presented by Simon Mathers from EY.

48.2    Dr Horne thanked Mr Mathers for the report and noted that EY were no longer auditing Teacher’s Pensions and asked how, if that were the case, the audit would be reported to the Audit & Standards Committee. The Executive Director of Finance & Resources said that the Government had changed the rules about financial checks and there was now no national framework for auditing this area. Under the old arrangements the pension contributions were audited with the rest of the Council’s accounts at a cost of £1500. However, as that audit would no longer be part of the main audit it would need to be prepared separately and EY had quoted £15k to undertake the work. However, a local firm had now been appointed to conduct that audit at a cost of £6k. Members would be advised how that audit would come to the Committee. The Chair confirmed that that audit would come to a future meeting of the Committee.

48.3    RESOLVED – That the Committee noted the report.