Agenda item

The Committee considered the Audit Completion Report of the External Auditor relating to Durham County Council Pension Fund for the year ended 31 March 2018 (for copy see file of Minutes).

Mr M Kirkham, Mazars introduced the report and commented that officers were working to very high standards on the production of these accounts.

Ms S Liddle, Mazars presented the report to the Committee and circulated a letter for the information of the Committee which provided an update on outstanding matters and conclusions reached on the audit since the report was circulated (for copy see file of Minutes).   She advised that there had been very little change in material circumstances, 1 unadjusted misstatement relating to a timing issue in market value and investments, and 1 adjusted misstatement about management expenses

Councillor Shuttleworth referred to the recommendation to strengthen internal controls and was advised that Internal Audit would be picking up this.

Resolved:

(i)    That the adjustments to the financial statements be noted.

(ii)  That the letter of representation be approved