VFM Task Group Update
To receive a verbal update from the Deputy Chief Executive.
Minutes:
The Deputy Chief Executive advised the Committee that there was currently no formal Value for Money Task Group. The Committee noted that KPMG was close to completing its external audit and BDO would then take over and may be able to work on more than one year’s Accounts at a time.
The Committee noted that PSAA (Public Sector Audit Appointments; the body responsible for appointing auditors for local authorities) had allocated Grant Thornton as external auditors for the next round of contracts commencing in 2023/24.
PSAA had also proposed an increase in external audit fees of 150%. The budget for external audit had been increased in anticipation of this rise.
The committee resolved to note the update.