Contents
Report 5 of the 10 March 2011 meeting of the Corporate Governance Committee, updates members on external audit’s progress in delivering their responsibilities as the Authority’s external auditors.
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External Audit Progress report 2010/11
Report: 5
Date: 10 March 2011
By: Treasurer
Summary
The paper updates members on external audit’s progress in delivering their responsibilities as the Authority’s external auditors. It also provides a summary of key emerging national issues and developments which may be of interest to members.
A. Recommendation
That Members note the District Auditor’s progress in delivering the audit plan for 2010/11
B. Supporting information
1. The District Auditor has submitted her regular progress report for 2010/11 (Appendix 1).
2. The purpose of the report is to keep members of the Corporate Governance Committee informed of progress against the external audit plan for 2010/11. The report also highlights emerging national issues and developments which may be of interest to members of the committee.
C Other organisational and community implications
Equalities impact
1. There are no equality and diversity implications directly arising from this report.
Met Forward
2. Having proper arrangements in place to deliver economy, efficiency and effectiveness in the use of resources is key to the delivery of Met Forward.
Financial implications
3. The plan will be delivered in line with the agreed Audit Fee for 2010/11 of £516,000 as reported to Corporate Governance Committee in June 2010. The Audit Commission are also proposing a refund of £7,740 to reflect the new approach to value for money.
Legal implications
4. The duties and powers of external auditors appointed by the Audit Commission are set out in the Audit Commission Act 1998, the Local Government Act 1999 and the Commissioners Statutory Code of Practice.
5. External audit is an essential element in the process of accountability for public money and makes an important contribution to the stewardship of public resources and the corporate governance of public services.
6. This Committee has delegated authority to review the external auditor’s Annual Governance Report and any other reports and to report these to the Authority as appropriate, including implementation of agreed recommendations.
Environmental implications
7. There are no environmental implications directly arising from this report.
Risk implications
8. There are no specific risk implications highlighted by this report.
D. Background papers
None
E. Contact details
Report author: Annabel Adams, Deputy Treasurer, MPA
For information contact:
MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18
Supporting material
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