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Finance and Audit

Finance and Audit. Review of 2009/10 Preview of 2010/11. Challenge Review 2009/10. External Audit S11 recommendations: Qualifications Reconciliations Assets and leases Audit of Key systems Internal Audit weaknesses Financial Stability Use of Resources. Achievements.

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Finance and Audit

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  1. Finance and Audit Review of 2009/10 Preview of 2010/11

  2. Challenge Review 2009/10 • External Audit S11 recommendations: • Qualifications • Reconciliations • Assets and leases • Audit of Key systems • Internal Audit weaknesses • Financial Stability • Use of Resources

  3. Achievements • Unqualified Accounts addressed: • Reconciliations • Working papers • Assets and leases • Key system audits • Regulation changes • Compliance with best practice

  4. Achievements Audit Team 100% CIPFA compliant • Addressed 70 DA recommendations • Audit plan completed as scheduled • Legacy audit recommendations addressed • All reports available for Members online

  5. Achievements Financial Stability • Balanced budget achieved for 2009/10 • Reduced DWP liability by £5m • Absorbed Campus project risks • Budgets 2010/11 onwards restore balances

  6. Achievements Use of Resources • More difficult test • Overall score of 2 performing adequately • Significant improvement

  7. More to Do 2010/11 • Accounting changes • Maintain improving standards of auditing • Address VfM Conclusion • Shared services • Budget 2011/12

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