The Audit, Governance and Standards Committee of Southwark Council met on Thursday 25 April 2024 to approve the council's Statement of Accounts for 2022-23. The committee also considered the audit findings reports for both the council and the Pension Fund for the same period, and approved the letters of representation required to conclude the audits.

2022-23 Statement of Accounts Including the Pension Fund and Audit Findings Reports

The committee considered the 2022-23 Statement of Accounts for both Southwark Council and the Southwark Pension Fund, alongside the audit findings reports from external auditors Grant Thornton.

Key outcomes of this agenda item included:

• Approval of the Statement of Accounts 2022-23: The committee approved the council's main Statement of Accounts for the year ended 31 March 2023.
• Consideration of Audit Findings Reports: The committee considered the matters raised in Grant Thornton's audit findings reports for both the council (Appendix A) and the Pension Fund (Appendix B).
• Noting of Adjustments: The committee noted the adjustments made to the council's accounts (detailed in Appendix A) and the Pension Fund accounts (detailed in Appendix B).
• Approval of Letters of Representation: The committee approved the letters of representation for both the council and the Pension Fund (Appendices C and D), which are required by Grant Thornton to conclude the audit.
• Noting of Internal Audit Report on Objection: The committee noted the internal audit report on an objection to the 2021-22 statement of accounts (Appendix F). It was recommended that the Overview and Scrutiny Committee consider this matter in the new municipal year, and that officers provide a report back to the Audit, Governance and Standards Committee in six months' time.

Members thanked the auditors and officers for their work. They requested that the draft accounts for 2023-24 be presented to the committee in July 2024, and asked for information on any additional areas that might benefit from closer scrutiny in future audit years. Members also requested a report back on lessons learned at the July meeting and suggested a clearer numbering system for future agenda packs.