Issue - meetings
External Auditors
Meeting: 06/03/2019 - Audit & Governance Committee (Item 15)
15 External Auditors 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.