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Issue - meetings

External Auditors

Meeting: 06/03/2019 - Audit & Governance Committee (Item 15)

15 External Auditors pdf icon PDF 378 KB

2.50

 

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

 

·         Audit Progress Report

 

Decision:

The report was noted.

Minutes:

The Chairman thanked the external auditors for a much more user-friendly report.  David Guest responded to Members’ questions as follows:

 

·         Regarding “significant contracts”, the Skanska contract is the only one that is looked at annually due to its size.

·         The sample size for testing depends on the level of risk and predictability.  In recent years the approach has been less analytical with more testing.

·         With regard to Carillion the external auditors will look at how the situation is reflected in the financial statements.

 

RESOLVED: to note the report.