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Agenda item

Audit Completion Report for the Year Ended 31 March 2018

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 2018 (for copy see file of Minutes).

 

Sharon Liddle of Mazars LLP advised that very few amendments had been required and thanked Officers for their work and co-operation in what was now a very tight deadline to complete the audit.

 

Councillor Davinson asked if any problems were foreseen with the deadlines in future years, noting the adjustment required as a result of a delay in receiving fund manager transition costs.

 

Beverley White explained that the information from Fund Managers was required well in advance and they received regular reminders. A possible area of concern for next year’s audit was the transition of assets into the pool which may not take place until March 2019.

 

Following a question from Councillor Atkinson, Beverley White stated that Managers were required to sign up to a transparency code which could have caused a delay in the submission of transition costs. However this was the first year that this information had been required of the Managers and she anticipated that this would not be an issue in future. The information had been received in time for the completion of the accounts.

 

Councillor Temple noted that CBRE had not signed up to the Code and asked if the Manager was required to provide transition costs. The Member was informed that there was no requirement for CBRE to do so.

 

Resolved:

 

That the content of the report be noted.  

 

 

Supporting documents:

 

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