Issue - meetings

The Committee received a report from Principal Accountant (Technical & Financial Accounting) regarding the Annual Audit Letter from Ernst & Young, which summarised the key issues arising from their 2017/18 audit.

In response to the report Councillors commented that the ‘clean’ report from Ernst & Young reflected good work by Officers.

In response to Councillors’ questions the Principal Accountant (Technical & Financial Accounting) said:

       i.          The audit fee had been discussed with Ernst & Young.

a.    The standard fee was determined by Public Sector Audit Appointments (PSAA) as part of the national awarding of audit contracts, but this no longer reflected the shape of the Council.

b.    The Council had discussed establishing a new standard fee with Ernst & Young, but there was no provision for this under the PSAA arrangements.

c.    Certain fees would therefore continue to accrue in future in addition to the standard one eg group reporting.

     ii.          Legal and accountancy definitions of controlled entities were different. The impact of Cambridge Live on fees in future was to be determined.

Unanimously agreed to note the contents of the Annual Audit Letter.