Statement of Accounts for the Council
At the end of each financial year, we prepare a Statement of Accounts. This provides information about our expenditure and income and our financial standing.
The Statement of Accounts is a formal document complying with the accounting regulations which all local authorities must meet. Independent auditors examine our accounts to ensure that they present our financial position fairly.
The Council's financial year ends on 31st March and our statutory Chief Finance Officer (the Head of Finance & Revenues) signs a draft Statement of Accounts. Members of the public are able to examine the draft Accounts and ask questions of an independent auditor. We are required to publish our audited accounts by 30th November 2022. The National Audit Office's Local Audit Code and Guidance team has day to day responsibility for the way in which local auditors fulfil their statutory responsibilities. The National Audit Office explains how the public can inspect, question and challenge council’s accounts on their Council Accounts - A Guide to your rights webpage.
Our independent auditors are Ernst & Young LLP of Grosvenor House, Grosvenor Square, Southampton SO15 2BE.
AUDIT OF ACCOUNTS 2021-22
Local Audit and Accountability Act 2014, sections 25 – 27
Accounts and Audit Regulations 2015 Regulations 14 – 15
The Council published its Statement of Accounts for 2021/22, subject to audit and its Annual Governance Statement within the statutory deadlines for publication.
The Council’s accounts are subject to external audit by Ernst & Young LLP of Grosvenor House, Grosvenor Square, Southampton SO15 2BE.
It was anticipated that the audit of the accounts would be completed by 30th November 2022, however there is no statutory date for the audit opinion to be given. The audit has been started and the Council has been notified by its external auditor, Ernst and Young, that they are finalising the final pieces of work and expect to complete the audit later in 2022. The Accounts and Audit Regulations set out at 10(2) that where an audit is not concluded by the specified publishing date, the Council must instead publish a notice stating that it does not have audited accounts and the reasons why.(See attached link: http://www.legislation.gov.uk/uksi/2015/234/regulation/10/made). The delay in the completion of the audit is the reason for the delay. By publishing this notice and the 2021/22 Audit letter, the Council are able to comply with this statutory requirement. The Audit Committee will consider the results of the 2021/22 audit at a meeting to be called once the work of the external auditors is complete, after which the final audited accounts will be published.
Head of Finance and Revenues
Test Valley Borough Council