Decision details

Mr Ayre, Audit Manager from Grant Thornton, presented his report on the findings of the external audit of the Lancashire County Pension Fund Accounts for the year ended 31st March 2020. He reported that the accounts had been considered by the Audit, Risk and Governance Committee on the 19^th October and all items identified as outstanding as at the date of issue of the audit findings report had subsequently been completed. It was noted that once the post balance sheet events had been updated and the management representation letter received the accounts would be signed off.

The Committee noted that the auditors had provided an unqualified audit opinion, including an 'Emphasis of Matter' paragraph highlighting asset valuation material uncertainties on the pension fund accounts and a 'consistency' opinion on the Annual Report of the Fund.

Resolved: That the findings of the external audit of the Lancashire County Pension Fund Accounts for the year ended 31^st March, 2020, together with the adjustments to the financial statements and the updates given by the auditor at the meeting, are noted.