Agenda and minutes

Audit Committee
Wednesday, 25th July, 2018 9.00 am

Venue: Port Talbot Civic Centre, Committee Rooms 1/2

Contact: Nicola Headon 

Items
No. Item

1.

Audit of Financial Statements Report 2017/2018 pdf icon PDF 112 KB

Additional documents:

Minutes:

Members received an update on the Audit of Financial Statements Report 2017-2018.

 

RESOLVED:         that the report be noted.

 

 

2.

Statement of Accounts 2017/2018

Minutes:

Members received an overview of Statement of Accounts 2017/18, following the completion of the external Audit.

 

The Head of Financial Services thanked Officers and WAO, for the hard work put in to preparing the accounts and for enabling early closure. Also, Members thanked all Officers involved for the work that had gone into meeting these deadlines and thanked Wales Audit Office for their continued support.

 

The Chairperson signed the letter of Representations regarding the 2017-18 financial statements, this will be sent to the Auditor General for Wales.

 

RESOLVED:        that the report be noted, also:

 

                    Letter of Representation, included as Addendum                     1 of the circulated report, be approved.

 

                    The final 2017/18 Statement of Accounts, as                        included in Addendum 2 of the circulated report,                     be approved;

 

                              The Chair of the Audit Committee signed the                                  Letter of Representation and the Statement of                               Accounts;

 

                    Officers tasked to continue to work with WAO                       to improve arrangements for future years both           locally and to inform the wider roll out of the early                closure pilots.

3.

Risk Management

Minutes:

Members received an overview and presentation on Risk Management.

 

It was highlighted that Risk Registers would go back to Cabinet every six months, Members raised concern and suggested that it should be every three months.  The Head of Financial Services will take this back to the Director of Finance and Corporate Services and update Members at the next meeting.

 

It was noted that the form of dates shown on the register should be changed into a different format.

 

It was also noted that a full copy of both risk registers will be brought back to the next Audit Committee, hard copies will be sent out two weeks before next Committee date.