Agenda item

City Fund and Pension Fund Accounts External Audit Strategy & Planning Report on the 2017-18 Financial Statements

Report of the External Auditors, BDO.

Minutes:

Members received the External Auditor’s planning report in respect of the City Fund and Pension Fund and the Grant Claims and Returns Certification.   The External Auditor confirmed that the significant risks were the same as those highlighted by Moore Stephens in the previous report. Members noted that there would always be an element of risk with land and buildings and management overrides.

 

In response to a question about the Pension Fund, the Chamberlain confirmed that all City Corporation data had been tested and the Pensions Board had written to all overseas pensioners.

 

In respect of Grants Claims Certification, the External Auditor was pleased to report only minor errors and no qualified housing benefit opinion.  Members were pleased to note that such a high level of accuracy was very uncommon.

 

RESOLVED, that – the report be noted