Decision details

Karen Murray and Fiona Blatcher, Director and Associate Director of Grant Thornton respectively presented the External Audit Plans for the audit of the county council and the pension fund for 2012/13.

The Audit Plans set out the main risk areas which the audits would focus on. These included the council's financial statements and value for money. 

The committee noted that the fee for the audit of the pension fund had increased by £7,336. This additional charge related to changes in the investment portfolio of the pension fund, an increase in the overall number of managers and the increasing complexity of the financial instruments involved which had given rise to additional risks.

It was also noted that a further report would be presented to the next meeting of the committee in June 2013.

Resolved: - That the External Audit Plans for the audit of the County Council and the County Pension Fund for 2012/13, and the fees therein, be noted.