2022-23 Combined Authority Final Statement of Accounts and Auditor’s Annual Report Published

2022-23 Combined Authority Final Statement of Accounts and Auditor’s Annual Report Published

Following the meeting of the Audit & Governance Committee on Thursday 27^th November, we are pleased to present the 2022-2023 Combined Authority Final Statement of Accounts and Auditor’s Annual Report.

We are required to prepare an annual Statement of Accounts by the Accounts and Audit Regulations 2015, to make sure we obey proper accounting practices. (The accounting rules for Local Authorities are published in the ‘Code of Practice on Local Authority Accounting in the United Kingdom’ and comply with International Financial Reporting Standards (IFRS).)

The Authority believes the statement of accounts gives a true and fair view of the financial results of the Authority’s work for the financial year ended 31 March 2023. The statement of accounts also summaries the overall financial position of the Authority at the 31 March 2023.

External auditors have issued a disclaimed opinion. This means that EY was unable to reach an opinion on the Authority’s accounts. The reason for this is not to do with any issues identified in the Authority’s accounts, or its commitment to the audit process, instead it relates to a well-documented backlog of external audits across the sector in recent years.

These delays prompted the Government to introduce new legislation setting strict ‘backstop’ deadlines for external audit completion, aiming to clear the national backlog and return to timely reporting in future years.  When publishing its decision, the Government specified that: “Local bodies should not be unfairly judged based on disclaimed or modified opinions, caused by the introduction of backstop dates that are largely beyond their control”.

In acknowledgement that this is a sector-wide issue affecting hundreds of Authorities across the Country, MHCLG issued a policy paper setting out further details on the 27^th November which can be found here.

Read the final, audited accounts (including the Auditor’s Annual report) for 2022 to 2023

The notice of audit conclusion, and associated Audit Certificate, have not yet been issued as these rely on the Authority’s Whole of Government Accounts submission being audited. Because auditors have not been given the latest National Audit Office guidance and reporting requirements yet, we cannot write the submission, so must wait to be issued this.