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ELECTION OF AUDITORS

Report of the Comptroller and City Solicitor (copy attached).

Minutes:

The Committee considered a joint report of the Town Clerk, the Chamberlain and the Comptroller & City Solicitor relative to the introduction of qualifications for the office of Auditor of Chamberlain’s and Bridgemasters’ Accounts and changes to the tendering arrangements for the audit of non-City Fund accounts. The Committee also received a resolution of the Audit and Risk Management Committee who had already seen and approved this report.

 

The Chamberlain reported that, if approved by the Livery Committee, this report would be submitted to Common Hall on 1st October and then a Bill for an Act of Common Council would be brought forward to regularise the electoral timetable and processes for a number of offices elected by the Livery (Bridgemasters and Ale Conners as well as Auditors).

 

The Chamberlain went on to report that a Member of the Audit and Risk Management Committee had questioned what would happen if an Auditor were to die in office or a candidate in an uncontested elected died after the close of the nomination period (but before taking office). Members were informed that various scenarios had been considered and that appropriate measures would be included in the Bill for an Act of Common Council.

 

In response to a question, the Chamberlain stated that one of the present Auditors was not currently a practicing auditor and would not therefore meet with the new requirements. It was also reported that a Member of the current Audit Review Panel had declined to sign the Audit Panel’s report on the City’s Cash Financial Statements and had sent a report to the Audit and Risk Management Committee outlining his reasons for this. Members noted that these concerns had been rebutted in a letter from the Chamberlain and the Audit and Risk Committee were satisfied with this response.

 

 

 RESOLVED – That,

 

(i)           the Livery Committee report to Common Hall recommending that the qualifications for the office of Auditor of Chamberlain’s and Bridgemasters’ Accounts and the associated procedures set out in this report be introducedfor the election and re-appointment of Auditors in Common Hall in 2013 and thereafter; and

(ii)          that tenders for the audit of the Chamberlain’s and Bridgemasters’ Accounts shall be sought using an open procurement procedure, subject to a representative of the successful firm being elected as an Auditor of Chamberlain’s and Bridgemasters’ Accounts before the contract is awarded and advise Common Hall accordingly.

 


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