Issue - meetings

Cabinet received a report which followed a referral from the Council’s External Auditor, PricewaterhouseCoopers (PwC).

The purpose of the report was for Cabinet to consider and respond to the Annual Audit Letter for 2014/15, as prepared by PwC.

The Cabinet Member for Resources introduced the report, highlighting the main issues contained within. It was advised that the Council had once again received a clean bill of health and had received an unqualified Value for Money Opinion from PwC, in regards to the use of resources. As the Council’s budget became tighter, the need for rigorous financial management would become ever more important.

The Cabinet Member for Resources thanked Julian Rickett and his team from PwC and wished them all the best for the future as this was the final external audit that PwC would undertake for the Council. This was endorsed by the Cabinet.

Julian Rickett from PwC addressed the Cabinet and added further points of clarification. The lack of issues and brevity of the Audit Letter reflected well on the authority as a whole. Julian Rickett thanked the Cabinet for all of their assistance over PwC’s tenure as the Council’s external auditors.

Cabinet debated the report and in summary, key points raised responses to questions included:

·         The only relative measure, from an auditor’s perspective, to rank local authorities was through the Audit Opinions. It had been easier to determine whether Peterborough would be given a clean Opinion than it had been for some other local authorities, but some time had been spent considering Peterborough’s budget arrangements.

Cabinet considered and RESOLVED to approve the Annual Audit Letter for the financial year 2014/15.

REASONS FOR THE DECISION

The Council was required to consider the statutory Annual Audit Letter and to make appropriate arrangements in response to recommendations.

ALTERNATIVE OPTIONS CONSIDERED

There were no alternative options considered in this instance.