Issue - meetings

Report of KPMG LLP.

The Committee received KPMG’s Annual Audit Letter summarising the results of their 2015/16 audit of Lancaster City Council (the Authority), which covered the Authority’s 2015/16 financial statements and the 2015/16 Value for Money (VFM) conclusion.

Richard Lee, Senior Manager - KPMG LLP (UK), advised that, on 30^th September 2016, KPMG had issued an unqualified conclusion on the Authority's arrangements to secure value for money (VFM) for 2015/16 and an unqualified opinion on the Authority’s financial statements.

The External Auditors had concluded that the Authority had made proper arrangements to secure economy, efficiency and effectiveness in its use of resources, and believed that the financial statements gave a true and fair view of the financial position of the Authority and of its expenditure and income for the 2015/16 financial year.

Members had the opportunity to raise questions on the Annual Audit Letter, which were answered by the External Auditor. Mr Lee reported to the committee that the high quality of working papers and evidence provided by Financial Services had contributed greatly to the efficient conduct of the audit.  Members expressed their appreciation of this statement and agreed that this should be duly noted by the authority.

Resolved:

That the Annual Audit Letter be noted.