Issue - meetings

Report of Grant Thornton.

Grant Thornton presented the audit progress report to the Committee and outlined the key points raised in the report. It was confirmed that the draft accounts had been provided by the Council early to enable review work to commence early, and officers were thanked for making this possible. The audit of the accounts had begun on 6 July 2009, and to date no major issues had been identified.

It was reported that good progress had been made with the preparations for the implementation of the International Financial Reporting Standards. It was also reported that a high-level review of Member and senior officer expenses and allowances would be carried out by Grant Thornton as part of their work on use of resources. All local government auditors were required by the Audit Commission to look at how local authorities had responded to the recommendations arising from research by the Audit Commission into investment in Icelandic Banks; the outcome of this work would be reported to the General Purposes Committee in September 2009.

In response to a question from the Committee regarding the review of expenses and allowances, Grant Thornton reported that this would be a high-level review focussing on the policies and procedures in place, and whether these were being complied with. Comparison would also be carried out with other London Boroughs.

The Committee requested that a brief note on the review of the Council’s arrangements for member expenses and allowances and senior officer allowances be circulated to the Group Whips.

The Chair welcomed the report that no significant issues had been identified in the audit of the accounts so far, and noted the forthcoming reports to Members arising from Grant Thornton’s work.

RESOLVED

That the content of the report be noted.