Issue - meetings

2.50pm

Representatives from the external auditors Ernst & Young will attend to present the following items:

·         Oxfordshire County Council Audit Planning Report

·         Oxfordshire Pension Fund Audit Planning Report

The reports were noted.

Paul King introduced the two reports and asked the Committee to note the risks listed on Agenda Pages 12 to 14.  These identify issues that may arise but it does not mean that they will happen.  The Auditors are required to give an opinion on how these are reflected in the accounts.

Paul King and David Guest responded to questions from Members as follows:

·         The auditors will look at the evidence on the Carillion issue and will come to a view on the probability.  The issue is likely to go on for some time.

·         The Council can ask for a lower level at which audit differences are reported.  All differences are recorded.  Items like exit packages will always be scrutinized whatever the level.

·         With regard to the pension fund and the points made by Fossil-Free Oxfordshire, the auditors give an opinion on the accounts and look at the Council’s arrangements as a whole.  They do not see any significant risk in this context.

·         All fees have to be agreed with the PSAA (Public Sector Audit Appointments).

Members also asked about Council planning in relation to Brexit.  Ian Dyson stated that the Political Group Leaders are getting regular reports.  The Council is monitoring information from external advisors, national government, the Local Government Association and the County Council Network.  The Local Resilience Forum is studying workforce, supply chain and cohesion issues, working with the NHS and major providers.  Generally, Oxfordshire is regarded as being low risk and low impact.

Paul King also updated the Committee on the objection lodged in respect to LOBO loans and confirmed that the auditors will not be upholding the objection.

RESOLVED: to note the reports.