Minutes:
The Committee considered a report of the Corporate Director of Resources which informed Members of the completion of the audit of the Pension Fund Accounts and presented the Audit Completion Report for the financial year ended 31 March 2016 (for copy see file of Minutes).
The Audit Completion Report and the letter from the External Auditor presented to Audit Committee on 30 September 2016 were attached as Appendices to the report.
The report gave the Auditor’s unqualified opinion on the Pension Fund’s financial statements, and the consistency of the Pension Fund’s Annual Report and the County Council’s Statement of Accounts.
Within the control recommendations the report highlighted that BlackRock used a different classification than that required by the CIPFA Code of Practice and Members were informed of action being taken to ensure that in future the investments reported by BlackRock were categorised in accordance with accounting requirements.
Resolved:
That the contents of the report be noted.