Issue - meetings
External Audit Plan 2017-18
Meeting: 07/02/2018 - Audit Committee (Item 50)
50 External Audit Plan 2017-18 PDF 5 MB
To receive an External Audit Plan 2017-18.
Minutes:
Members received the External Audit Plan 2017-18.
During the discussion of this item the following points were made:
· One significant risk ‘Misstatements due to fraud or error’ had been identified. This was a mandated risk and not specific to Wokingham.
· Audit risks identified included valuation of land and buildings, pension liability valuation and financial statements presentation.
· No significant value for money risks had been identified to date.
· Members were informed that for planning purposes, materiality for 2017/18 had been set at £6.8million.
· The planned fee for 2017/18 was £112,800.
· The timetable showing the key stages of the audit and the agreed deliverables was highlighted. Officers were confident that the new July deadline would be met.
RESOLVED: That the External Audit Plan 2017-18 be noted.