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Report 11 of the 19 June 2006 meeting of the Corporate Governance Committee and presents the Audit Commissions submitted final external audit plan for 2006/07.

Warning: This is archived material and may be out of date. The Metropolitan Police Authority has been replaced by the Mayor's Office for Policing and Crime (MOPC).

See the MOPC website for further information.

External audit plan 2006/07

Report: 11
Date: 19 June 2006
By: Treasurer

Summary

The Audit Commission has submitted the final external audit plan for 2006/07.

A. Recommendation

That

  1. the Audit Plan be received; and
  2. the 2006/07 audit fees be approved.

B. Supporting information

1. At this committee’s last meeting on 16 March, the Audit Commission’s proposed risk based programme was considered. It was agreed that the Audit Commission’s final Audit Plan would be brought to this committee for formal approval, a copy of which is attached at Appendix 1. The Audit Commission has consulted with the Commissioner and his management team on the Plan.

Audit fees

2. The Audit Commission have now notified that their audit fee will be increasing from £516,000 to £525,000 in 2006/07, an increase of 1.7%. Initial discussions have taken place with the Audit Commission on possibilities of joint working to reduce the Audit fees over the coming years, and actions that the Authority can specifically take; this will be kept under review.

3. Notification has also been received that the Audit Commission will no longer be charging for grant claim verification work, as this is no longer required by the Home Office. This fee was £26,000 in 2005/06.

4. It is likely that there will be separate charges for external audit work associated with the Whole of Government Accounts and work to support the auditor’s judgement on the Police Use of Resources Evaluation, although the combined cost is not expected to exceed £17,000.

C. Race and equality impact

As part of the Commission’s planning process they have taken the opportunity to look at potential issues for future years’ programmes. One of the key areas identified includes equalities and diversity.

D. Financial implications

None arising directly from this report. The 2006/07 audit fee can be met from within existing MPA budget estimates.

E. Background papers

  • Audit Plan 2006/07 (See Appendix 1)

F. Contact details

Report author: Ken Hunt, Treasurer, MPA.

For information contact:

MPA general: 020 7202 0202
Media enquiries: 020 7202 0217/18

Supporting material

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