The Audit Committee of Enfield Council is scheduled to convene on Monday 22 June 2026, with a key focus on the external audit plans for the Council's Statement of Accounts and Pension Fund Accounts for the 2025/26 financial year. Attendees will also review Grant Thornton's proposed audit plans and associated fees for these significant financial reporting exercises.

External Audit Plans and Fees

A central item on the agenda is the review of the external audit plans for the London Borough of Enfield's Statement of Accounts and its Pension Fund Accounts for the 2025/26 financial year. These plans, prepared by Grant Thornton, outline the scope and approach for auditing the Council's financial performance and the Pension Fund's financial position. The reports detail the proposed audit fees for this work, which represent an increase from the previous year for the Council's accounts, partly due to the additional work required for the IFRS 16 Leases and Group Accounts, and a one-off fee for the 2025 triennial valuation data testing for the Pension Fund.

Draft Statement of Accounts 2025/26

The committee is also scheduled to review the draft Statement of Accounts for the 2025/26 financial year. This comprehensive document, prepared in accordance with the CIPFA Code of Practice on Local Authority Accounting, provides a detailed overview of the Council's financial performance and position. The report includes core financial statements, notes to the accounts, the Housing Revenue Account, the Collection Fund, and consolidated group accounts, offering a thorough insight into the Council's financial standing.

2025/26 Audit Plans - LBE and Pension Fund Accounts

This report presents Grant Thornton's Audit Plans for the Statement of Accounts and Pension Fund Accounts for the 2025/26 financial year. It also details the estimated audit fees for these audits. The plans highlight the auditors' approach to rebuilding audit assurance following previous disclaimed opinions, with a focus on in-year transactions and closing balances for 2025/26. The report notes that while an unmodified opinion is not expected for 2025/26, the work aims to establish a pathway towards regaining full assurance over time.

External Audit - Rebuilding Assurance

A significant portion of the meeting is dedicated to discussing Grant Thornton's strategy for rebuilding audit assurance following previous disclaimed opinions. The report outlines a three-year plan to achieve an unmodified opinion by 2027/28, with phased build-back of assurance over opening balances, reserves, property, and pensions. The success of this strategy is noted to be dependent on the Authority's delivery of high-quality draft accounts, comprehensive working papers, timely audit access, and continued focus on internal controls. The Council has been assessed as Category [B] in the MHCLG capacity assessment, indicating capability for an ISA-compliant approach within the build-back period, but with significant operational difficulties.

Counter Fraud Policies

The committee will also be asked to approve revised Counter Fraud policies, including the Anti-Money Laundering Policy, Sanction & Prosecution Policy, Whistleblowing Policy, and Anti Bribery and Corruption Policy. These policies have been reviewed and revised as part of the Counter Fraud Response Plan 2025-2028, aiming to strengthen the Council's approach to preventing, detecting, and responding to fraud and corruption, thereby protecting public funds and maintaining public confidence.

Draft 2026-27 Internal Audit Plan (Q1 & Q2) and Charter

The Head of Internal Audit will present the draft Internal Audit Plan for the first two quarters of 2026-27, outlining a risk-based approach to audits covering financial, operational, and IT areas. The plan includes a mix of in-house and outsourced audits, with a focus on high-priority areas. Additionally, the committee will review and approve the draft 2026-27 Internal Audit Charter, which formally establishes the authority, role, and responsibilities of the internal audit function, ensuring its alignment with global standards and its independence.

Audit Committee Work Programme 2026/27

Finally, the committee will review the proposed work programme for the upcoming year, 2026/27. This programme outlines the scheduled business for the committee, including regular monitoring reports on the Corporate Risk Register, financial performance, and updates on internal and external audit activities, allowing members and the public to stay informed about the committee's business.

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