Report of BDO LLP.
Members received the BDO LLP Audit Planning for the year ending 31 March 2019. The audit strategy addressed financial statements of the City Fund, Pension Fund, Bridge House Estates, City’s Cash, Guildhall School of Music and Drama, City’s Cash Trusts, other Sundry Trusts, and the Lord Mayor’s Show. The scope of the work was determined by the National Audit Office (NAO).
Members were concerned with the ten-year rotation of audit partners, however Members were informed that as the City of London Corporation is not a public entity, it can fall under the ten year cycle, however this can be further discussed at the private annual meeting in July.
RESOLVED – That the report be received and its contents noted.