Finance

1. Draft statement of accounts 2018/19

The audit opinion for the Buckinghamshire County Council’s 2018/19 Statement of Accounts has not been issued as at 31st July 2019 by the council’s external auditors, Grant Thornton.

The council has a responsibility under the Accounts and Audit Regulations 2015 to publish the statement of accounts and, if the audit opinion is not yet available, publish an explanation of why the audited accounts are not available by 31st July 2019.

The audit opinion is not yet available because of a combination of factors, including the McCloud legal case, which had a knock on impact to many parts of the accounts and required additional audit work. The additional work on this matter impacted the progress of the audit on other areas, due to the additional time commitment required.

Also, in April the Financial Reporting Council (FRC), who now regulate public sector audit, made clear their increased expectations of audit work expected on Pensions and PPE accounting entries. This has increased the volume of work that Grant Thornton have needed to do in audits of the council’s size, and only became apparent after the year end.

Statement of accounts

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Last updated: 31 July 2019

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