Agenda item

The Committee received a report from the External Auditor explaining the scope of the audit, the risks identified and the procedures that would be performed to deliver the audit for Durham County Council Pension Fund (for copy see file of minutes).

Mr Kirkham, Mazars advised of the audit approach, significant risks, fees and the approach taken to materiality setting.

Mr Kirkham asked Members to note the 2020/21 fee for Durham County Council Pension Fund audit work which included the core fee, plus fee variation. The proposed fee for 2021/22 would be the same core fee, however it was anticipated there would be additional work following the Financial Reporting Councils (FRC) findings.

Resolved:

That the report be noted.