Issue - meetings

To consider a report of the Deputy Chief Executive (and Section 151 Officer)

In March 2023, a report was presented to Audit Committee providing an update as to the progress of the 2021/22 Statement of Accounts audit, which remains open due to a small number of significant issues impacting local authorities nationally.

Mazars LLP are the Council’s external auditors and are responsible for the audit of the Council’s annual Statement of Accounts.  Mazars LLP have recently presented a resolution to the last remaining issue.  This report provides an update on this and the next steps in order sign off the 2021/22 Statement of Accounts and a brief update on the progress of the 2022/23 Statement of Accounts.

Audit Committee is requested to note the report.

Officer contact; Jonathan Davies Tel: 0161 218 1025 or email: jonathan.davies@stockport.gov.uk

The Deputy Chief Executive (and Section 151 Officer) submitted a report (copies of which had been circulated) which provided an update as to the progress of the 2021/22 Statement of Accounts audit, which remained open due to a small number of significant issues impacting local authorities nationally.

Mazars LLP are the Council’s external auditors and are responsible for the audit of the Council’s annual Statement of Accounts.  Mazars LLP had recently presented a resolution to the last remaining issue.  This report provided an update on this and the next steps in order sign off the 2021/22 Statement of Accounts and a brief update on the progress of the 2022/23 Statement of Accounts.

The following comments were made/issues raised:

·         Members enquired further regarding the reasons for the delay in finalising the accounts and whether there was potential for sanctions in connection with this.  In response, Members were advised that as the delay was due to national issues, officers were not aware of potential sanctions pertaining to Stockport.

·         Members asked about the impact of the pension deficit on the budget and the ongoing funding position.

·         A short discussion took place on employer and employee pension contributions.

·         Members received reassurance that there were no direct financial implications to the Council.

·         A representative of the Council’s external auditors, Mazars, provided a further explanation and update.

RESOLVED – That the report be noted.