| Number | Item |
| | Agenda Front Page  |
| | Agenda Papers |
| | Minutes of the Meeting of this Committee held on the 1st February 2011 |
| 1. | Apologies/Substitutes |
| 2. | Declarations of Interest |
| 3. | Minutes – To approve the Minutes of the Meeting of this Committee held on the 14th December 2010 |
| 4. | Part I – For Decision |
| | Action Points from the Review of Audit Committee by LGID |
| 5. | Attached is the District Auditor’s report setting out theproposed work plan and fee arrangement for the externalaudit covering 2010/2011. This will be the final year ofexternal audit in its current form. From 1 April 2012 newarrangements are expected. Details of their form howeverare not as yet finalised with Government.The 2010/2011 Audit Plan contains two elements: the audit ofthe 2010/2011 Financial Statements and the statutory Valuefor Money conclusion covering 2010/2011. There is no otherplanned external audit activity. The financial statements auditwill in particular examine the Council’s compliance with thenew International Financial Reporting Standards as well asfurther improvements made to the accounts and supportingprocesses recommended from the last audit. As reported tothe Committee previously the Finance Manager and his Teamhave all matters in hand.The fee of £139500 is within the Council’s proposed budget.The District Auditor will attend to present the report. |
| | Draft Audit Plan 2010/11 |
| 6. | Part II – Monitoring/Information Items |
| | Ashford Borough Council’s Performance as measured by thecurrent batch of internal and external Performance Indicatorsremains strong although there are indications of short to mediumterm pressures in areas directly related to external demand for services.The Council is currently drawing up a reshaped PerformanceManagement Framework to demonstrate delivery of the Business Plan and allow Management Team to actively consider any issues related to the internal running of the Council. |
| | Corporate Performance Report |
| 7. | Under the Accounts and Audit Regulations 2003 the Councilis required to review at least annually the effectiveness of itssystems of internal governance and include a statement ongovernance issues with the Council’s Statement of Accounts.In June 2010 the Council published its Annual GovernanceStatement which identified a number of exceptions withregards to the systems of internal governance and control.This report provides Members with an update on the progressthat has been made so far this year in remedying thegovernance exceptions in the Annual Governance Statement. |
| | Annual Governance Statement – Progress on Remedying Exceptions |
| 8. | The Council is required to adopt international financialreporting standards and this report updates members on theprogress being made for the transition to the new standards.Work is progressing in all areas and our auditors are due toreview this in February. The key areas of focus are onembedded leases and lease arrangements for property.A key area of uncertainty is component accounting in theHRA where further guidance is awaited.A template for the statement of accounts incorporating thenecessary changes has been produced. |
| | Presentation of Financial Statements (To Follow) |
| 9. | Report Tracker and Future Meetings |