Posted:
7:00 a.m. on December 5, 2021

The North Somerset Council’s financial accounts for 2020/21 have received a good record of health from its auditors.

Each year, the board produces its statement of accounts, which details how it spent the money during the year, which is then assessed by independent auditors.

The external auditor, Grant Thornton LLP, has given an “unqualified audit opinion” on the financial statement of the accounts.

Their audit approach was based on a thorough understanding of the board’s business and is risk-based, and in particular included an assessment of the board’s internal control environment, including its IT systems and controls; and substantive testing of material transactions and material account balances, including procedures relating to key audit risks.

They performed detailed sample testing for Covid grants and other grant income did not find any anomalies in the board’s processing and accounting for grant income.

Cllr John Cato, Chairman of the Board’s Audit Committee, welcomed the news.

He said: “It’s great to be formally audited by an independent reviewer for the financial statements and to receive an unqualified audit opinion.

“Without high-level support behind the plans and without good governance and financial management, nothing that has been achieved would have been possible.

“Covid-19 still has a significant continuing impact on working arrangements and we are among the first authorities audited by Grant Thornton to have received our annual financial audit assurance, which is a remarkable achievement.

“This is a testament to the work of our governance and our finance department. I would like to express my gratitude to the staff in our finance department because without them this audit opinion would not have been possible.”

The audit committee is responsible for the corporate governance of the board, monitoring the functioning of the constitution, the accounts and the audit, the approval of the statement of accounts, the regulatory framework and the monitoring of the development and effective functioning of risk management.

The committee’s mission also includes the internal audit program, which changes each year.

Internal audits are carried out regularly within the board to ensure a continuous review of internal controls and governance procedures.