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Draft Statement of Accounts 2021-2022 Published

Draft Statement of Accounts 2021-2022 Published

Every year, the Combined Authority prepares an annual Statement of Accounts as required by the Accounts and Audit Regulations 2015, following proper accounting practices. These practices are prescribed by the ‘Code of Practice on Local Authority Accounting in the United Kingdom’ and comply with International Financial Reporting Standards (IFRS).

The purpose of the accounts is to present a true and fair view of the financial results of the Authority’s activities for the year ended 31 March, and to summarise the overall financial position of the Authority as at the 31 March. The Statement of Accounts is available for the general public to see at any time.

The Statement of Accounts is externally audited, but is presented for public review before the audit, in draft form, before it is finally published later in the year.

The external audit of the draft statement of accounts for the year ended 31 March 2022 has not yet been completed by our external auditors, EY LLP, as the Authority’s draft statement of accounts were not published by the 31 July 2022 and the resultant audit has thus been reschedule due to this delay. This situation is allowed for by Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015 (link:http://www.legislation.gov.uk/uksi/2015/234/regulation/10/made). The notice linked below explains, as per paragraph (2a), that we are not yet able to publish our audited 2021/22 final statement of accounts in line with deadline of 30th November 2022, as per paragraph (1). The Audit and Governance Committee will consider the results of the 2021/22 audit at a future meeting, after which we will publish the final audited accounts.

The unaudited (draft) Statement of Accounts for 2021 to 2022, and the Public Inspection Notice, are now available here:

You can also see last year’s Statement of Accounts and historical Statements of Accounts in our Document Library.