Council budgets and spending
Statement of Accounts
Redditch Borough Council's financial year runs from April to March and following the end of each financial year it publishes an annual statement of accounts. The accounts are one of the means by which the Council demonstrates its stewardship of public money and they present the financial position of the Council as at 31 March each year. They are produced in the format stipulated by the Chartered Institute of Public Finance and Accountancy (CIPFA) in accordance with best accounting practice.
Statements of Accounts 2019-20
The Accounts and Audit (Coronavirus)(Amendment) Regulations 2020 extend the statutory audit deadlines for 2019/20.
The requirement for the public inspection period to include the first 10 working days of June has been removed. Instead Local Authorities must commence the public inspection period on or before the first working day of September 2020. This means the draft accounts must be approved by 31 August 2020 at the latest. However they may be approved earlier.
The council will publish the dates of its public inspection period as soon as the draft 2019/20 statement of accounts has been approved.
Notice of delayed Opinion 2019-20:
Redditch Borough Council
EXTERNAL AUDIT OF ACCOUNTS: YEAR ENDED 31 MARCH 2020
Publication of Redditch Borough Council Statement of Accounts and Audit Opinion
The Accounts and Audit (England) Regulations 2015 – Regulation 10
As Amended By
The Accounts and Audit (Coronavirus) (Amendment) Regulations 2020
The audit of the draft statement of accounts for the year ended 31 March 2020 for Redditch Borough Council has not yet been completed by the external auditors, Grant Thornton UK LLP. The Accounts and Audit (Coronavirus) (Amendment) Regulations 2020 require that the audited accounts and opinion is published by 30 November 2020.
The delay has arisen due to a combination of factors, comprising the following:
- the impact of Covid-19 on both the complexity of the audit and pace at which it can be completed;
- the increased assurance work that auditors are required to carry out nationally with respect to pensions and asset valuations.
The audit and issue of the audit opinion is expected to conclude during January 2021 after which the statement of accounts and audit opinion will be published as soon as is reasonably practicable.
Therefore, this notice of delayed audit is being published in accordance with Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015. This can be found here
Redditch Borough Council Audit, Governance and Standards Committee, 26th November 2020, was formally advised of this matter and subject to the delegations agreed at this Committee the final audited accounts will be published as soon as the audit is concluded.
Auditor appointments to principal local government and police bodies from 2018/19
Public Sector Audit Appointments (PSAA) is specified as an appointing person under the provisions of the Local Audit and Accountability Act 2014 and regulation 3 of the Local Audit (Appointing Person) Regulations 2015. For audits of the accounts from 2018/19, PSAA appoints an auditor to relevant principal local government authorities that have opted into its national scheme. Appointments are made for the duration of the five-year appointing period, covering the audits of the accounts for 2018/19 to 2022/23.
For the period 2018/19 to 2022/23 Grant Thornton have been appointed as auditors by the PSAA.
Audit, Governance and Standards Committee, 29 July 2019
At the Audit, Governance and Standards Committee on the 29 July 2019 the committee considered a number of reports, amongst them the year end accounts as well as a qualified value for money report and recommendation made under section 24 of the Local Audit and Accountability Act 2014 from our external auditors Grant Thornton.