Decision details

A report was presented on the overall findings of the external auditor in relation to the audit of the annual accounts of Lancashire County Council, their proposed opinion on those accounts, and conclusion on the Council's value for money arrangements.

In commenting on the county council's accounts, Karen Murray, external auditor, informed the committee that the draft accounts were overall, prepared to a good standard. However, a number of material amendments had been identified within the financial statements and these had been discussed with the County Treasurer and members of her team.

The report also included the value for money conclusion. The opinion given in the report confirmed that the council had proper arrangements in place for securing financial resilience and for securing economy, efficiency and effectiveness in its use of resources. It was expected that an unqualified value for money conclusion would be issued for the year ended 31 March, 2013.

The committee noted that the external auditor was unable to issue the audit certificate to close the 2012/13 audit at this time. This was because the auditor needed to consider the outcome of the Council's own work to review its arrangements in respect of the weaknesses identified in procurement and governance.  It was also noted that a further report would be presented to the committee when the certificate was issued.

The committee’s attention was drawn to amendments to the narrative on page 59 of the agenda papers. The revised page was circulated at the meeting. (Copy set out at Annex A to the Minute Book)

Resolved:  That:

i)  The external audit findings report covering the audit of the County Council for year ended 31 March 2013 be noted.

ii)  The adjustments to the financial statements and other issues raised by the auditor as set out in the report presented, be noted.