Planned Audit Fee for 2012/2013
Minutes:
(The Chairman agreed to the consideration of this item as an urgent matter as consideration was required before the next meeting of the Board).
At the invitation of the Chairman, Mr. P. Jones, the Council’s Engagement Lead from Grant Thornton gave a brief introduction to the Company and explained how they would hope to work with the Council over the forthcoming year.
Mr. Jones then reported on the Council scale fee for 2012/2013. It was noted that this had reduced from an Audit Fee of £106,676 for 2011/2012 to £64,006 for 2012/2013 a reduction of £40%.
In response to questions from Members it was explained that this was largely due to a streamlining of processes and was not as a result of a decrease in input. In addition there would be a focus on agreed areas of high risk within systems. The Audit Commission would maintain a supervisory role and there would be formal Client surveys undertaken to obtain feedback.
RESOLVED that the planned audit fee for 2012/2013 of £64,006 be approved.