Issue - meetings

2.50pm

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

·         Annual Audit Letter

The report was noted.

Janet Dawson introduced the report.  The Committee had already seen the plan, progress and results but here they were presented at a higher level and it brings the Council and Pension Fund together.  The auditors expect to meet the submission deadline with the National Audit Office by Friday.

Janet Dawson responded to Members’ questions as follows:

·         The decision on the Pension Fund objection will be finalised in the next month.

·         The risk related to Carillion is due to uncertainty around the counter claims which could be material amounts.  Lorna Baxter stated that progress had been slow.  Any change would be reflected in the 2019/20 accounts.

·         The fees for IAS 19 Work refers to work done for other bodies – for example others involved in the pension fund.  This avoids duplication.  The relevant amounts are charged on to those bodies.

The Chairman asked that future reports be presented in a much more concise form without unnecessary pictures.

RESOLVED: to note the report.