The Audit Committee of Enfield Council met on Wednesday, 28 January 2026, to discuss the external audit of the Council's and Pension Fund's accounts for the 2024/25 financial year. The committee noted the Audit Findings Report and the Auditor's Annual Report for 2024/25, and approved the Council's Statement of Accounts and Pension Fund Accounts for the same period, along with the associated Letters of Representation.

The committee also reviewed the six-monthly update on the Corporate Risk Register, noting the management of corporate risks and the ownership of these risks by Directors and Cabinet Members. The dates for future meetings were also noted.

External Audit of the Accounts & Pension Fund Accounts 2024/25

Grant Thornton, represented by Matt Dean, Guy Clifton, and Ajay K Kha, presented a report on the external audit of the Council's and Pension Fund's accounts for the 2024/25 financial year. The report highlighted the challenging position regarding significant debts for the Housing Revenue Account, Meridian Water, and Energetik, which provided the context for a Statutory Recommendation made to the Council.

Regarding the audit backlog, auditors noted that while progress had been made in rebuilding assurances, there remained a significant amount of work to do before overall control environment and balance sheet integrity were fully restored. The Council's approach to Minimum Revenue Provision (MRP) was discussed, with auditors noting a difference in methodology compared to their preferred approach, although the Council's method was deemed compliant with statutory guidance. The auditors also advised that the Council's Pension Fund had governance arrangements and a risk profile comparable to similar organisations, with no significant sources of concern.

The committee agreed to approve the Council's Statement of Accounts and Pension Fund Accounts for 2024/25, along with the Letters of Representation. They also noted the Audit Findings Report for both the Statement of Accounts and the Pension Fund Accounts, as well as the Auditor's Annual Report for 2024/25. The receipt of the government allocation for the Audit Build Back Grant in December 2025 was also noted.

Six Monthly Review of the Corporate Risk Register

The committee noted the report on the Corporate Risk Register, acknowledging the management of corporate risks and the ownership of these risks by Directors and Cabinet Members.

Date of Future Meetings

The committee noted the date of the next meeting as Wednesday, 25 March 2026.

Exclusion of the Press and Public

A resolution was passed to exclude the press and public from the meeting for Part 2 of the agenda, which contained exempt information relating to the financial or business affairs of any particular person, including the authority itself.

Six Monthly Review of the Corporate Risk Register (Part 2)

Members noted and discussed the information presented in the Part 2 document, which provided further detail on the Corporate Risk Register.

The meeting also included a discussion regarding the logic of the rating system used in the Grant Thornton report, with concerns raised about whether it was misleading. Auditors clarified that the rating system was consistently applied across public sector bodies and that they were reflecting on its potential need for updating. Officers emphasized plans to accelerate the Meridian Water programme to address concerns about debt. The Chair requested an update report on progress against Key Recommendations in six months' time, which was agreed.

The meeting concluded with the agreement to approve the Council's Statement of Accounts and Pension Fund Accounts for 2024/25, the Letters of Representation, and to note the Audit Findings Report and the Auditor's Annual Report for 2024/25. The receipt of the Audit Build Back Grant was also noted.