Audit Commission annual governance report MPA audit 2005/06

Report: 12
Date: 22 September 2006
By: Chief Executive and Clerk

Summary

The report brings to the attention of the Committee the Audit Commission’s Annual Governance report on the MPA audit 2005/ 06.

A. Recommendation

That the Audit Commission’s annual governance report MPA audit 2005/ 06 be noted.

B. Supporting information

1. Attached at appendix 1 is the Audit Commission’s annual governance report on the MPA audit 2005/06. This is the annual governance report covering the audit of the Authority for the year ended 31 March 2006 and is presented by the District Auditor.

2. The Audit Commission is required by the Audit Commission's statutory Code of Audit Practice for Local Government bodies (the Code) to issue a report to those charged with governance summarising the conclusions from their audit work. For the purposes of the audit, the Authority's Corporate Governance Committee is considered to fulfil the role of those charged with governance and references to the Audit Committee should be read as such.

3. The Audit Commission is required by professional auditing standards to report to the Corporate Governance Committee certain matters before it gives its opinion on the financial statements. The section of this report covering the financial statements fulfils this requirement.

4. The principle purposes of the audit report are:

• to reach a mutual understanding of the scope of the audit and the respective responsibilities of the auditor and the Corporate Governance Committee;
• to share information to assist both the auditor and those charged with governance to fulfil their respective responsibilities; and
• to provide the Corporate Governance Committee with recommendations for improvement arising from the audit process.

5. In undertaking its audit, the Audit Commission complied with the statutory requirements of the Audit Commission Act 1998 and the Code. Auditors’ responsibilities are to review and report on, to the extent required by the relevant legislation and the requirements of the Code:

• the Authority’s financial statements; and
• whether the Authority has made proper arrangements for securing economy, efficiency and effectiveness in its use of resources.

C. Race and equality impact

There are no equality and diversity implications arising from this report.

D. Financial implications

The Audit Commission has reported on the Authority’s financial statements; and whether the Authority has made proper arrangements for securing economy, efficiency and effectiveness in its use of resources.

E. Background papers

None

F. Contact details

Report author: Ken Hunt, MPA

For information contact:

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

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