Issue - meetings

That the report and action plan be noted.

The Finance Manager - Technical Accountancy introduced the Council’s response to the Wales Audit Office (WAO) report ‘Audit of Financial Statements 2012/13’ and action plan of how issues raised in the report would be addressed.

In thanking the teams involved for the significant amount of work which had been undertaken between September and December 2014, the Head of Finance drew attention to positive actions being taken by both Finance and Valuation & Estates colleagues to respond to issues raised by WAO, particularly those which were related to accounting for assets within the financial statements.

In response to a query from Councillor Haydn Bateman on the uncorrected misstatement on the Clwyd Pension Fund, Mr. John Herniman of WAO said that figures received from Fund Managers after year end allowed only a short period to make the adjustments in the accounts.  The WAO had understood the view taken by the Council not to make the adjustment due to the amount concerned in the context of the Pension Fund and the accounts were subsequently given a clean opinion.

RESOLVED:

That the report and action plan be noted.