Decision details

Mr McGahon from Grant Thornton presented a report regarding the External Auditors Annual Audit Plan for the 2017/18 financial year, which set out in broad terms the programme of work which the auditor would focus on.

During consideration of the report it was noted that the total fee for the audit was expected to be £35,906. In response to a query the Head of Fund noted that whilst this was similar to the fee for previous years she would check the proposed fees and report back. The Committee also discussed materiality and it was suggested that a breakdown be provided in the final audit report regarding any trivial matter (less than £3.604 million) where the difference was over £1 million.

Resolved:

1.  That the Audit Plan for 2017/18 as set out in the Appendix to the report presented, is noted.

2.  That clarification be sought with regard to the fee to be charged for the external audit specified at 1 above and details circulated to members of the Committee outside of the meeting for information.

3.  That the report produced as a result of the external audit specified at 1 above include a breakdown regarding any trivial matter (less than £3.604 million) where the difference was over £1 million.