Decision details

Karen Murray, director, Grant Thornton presented the external auditor's Annual Audit letter for 2012/13 which summarised for members the key findings of the annual audit for 2012/13 including:

·  The audit of the 2012/13 financial statements for the County Council and the Lancashire County Pension Fund and the Whole of Government accounts Submission;

·  An assessment of  the Council's arrangements for securing economy, efficiency and effectiveness in its use of resources;

·  The certification of grant claims and returns.

The External Auditor concluded that the accounts gave a true and fair view of the financial position of the County Council and the Lancashire County Pension Fund.

An unqualified conclusion had also been provided in respect of the council's arrangements in respect of 'value for money'. However, it was reported that weaknesses in the overall framework had been identified in relation to procurement and some aspects of good governance.

It was noted that the council was currently investigating these weaknesses and that pending the conclusion of this work, the External Auditor was unable to issue an Audit Certificate for 2012/13 confirming the completion of the audit.

In response to questions raised by the Members, the external auditor reported that she was satisfied with the progress being made in respect of these areas of concern and would report back to the committee if she felt there was any unnecessary delay. 

Resolved:  That the Annual Audit letter for 2012/13be noted.