Decision details

Sarah Ironmonger, Parter at Grant Thornton UK presented the Lancashire County Council Audit Findings Report 2023/24.

It was highlighted that the auditors were expecting to meet the statutory deadline and to issue an unqualified opinion.

In response to queries about the valuation of the Pension Fund's net liability/asset, it was clarified that a new standard from the National Audit Office sought to achieve consistency across local government in relation to secondary contributions. This had required an adjustment to the council's statement of accounts. Other authorities had also been required to adjust their approaches, which would vary according to their circumstances.

Resolved: That the Lancashire County Council Audit Findings Report 2023/24 be noted.