Update on the Council's Statement of Accounts 2019/20 and Approval of the Accounting Policies for 2020/21
Decision Maker: Audit, Risk and Governance Committee
Decision status: Recommendations Approved
Is Key decision?: No
Purpose:
The report provides an update on the external
audit of the council's statement of accounts for 2019/20 and
presents the accounting policies to be used in preparing the
statement of accounts for 2020/21.
Decisions:
Khadija Saeed, Head of Service, Corporate Finance, presented an update regarding the council's Statement of Accounts for 2019/20 and Accounting Policies for 20/21.
The report highlighted that the audit was not concluded by the 30 November 2020 statutory deadline, due to capacity issues within Grant Thornton. Therefore, as per regulatory requirements, the council had published a notice on its website stating that the audited accounts would be published as soon as reasonably practicable after the receipt of the auditor's findings.
Resolved: That
(i) The position in relation to the external audit of the council's statement of accounts for 2019/20, as presented, be noted.
(ii) The accounting policies for 2020/21, as set out in Appendix A, as presented, be approved.
Divisions Affected: (All Divisions);
Contact: Jeanette Moister Email: Jeanette.Moister@lancashire.gov.uk Tel: 01772 533073, Khadija Saeed Email: khadija.saeed@lancashire.gov.uk.
Report author: Jeanette Moister
Date of decision: 25/01/2021
Decided at meeting: 25/01/2021 - Audit, Risk and Governance Committee
Accompanying Documents:
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