The Director – Assurance (Grant Thornton UK LLP) presented the Audit Committee Update for the year ended March 2014, which provided a report on progress in the delivery of external auditor responsibilities. The report also included a summary of emerging national issues and developments that may be relevant to the Council and posed a number of challenge questions in respect of the emerging issues for the Committee’s consideration.

A Member referred to challenge questions associated with the Grant Thornton report ‘2016 Tipping Point? Challenging the Current’, which assessed whether English local authorities had the arrangements in place to ensure their sustainable financial future and indicated that some authorities were predicting reaching tipping point, when the pressure becomes acute with financial failure a real risk. The Director – Assurance indicated that the risk of local authorities going into administration was not a scenario that had had to be dealt with in the UK. However, more imaginative delivery models were now having to be considered to meet statutory responsibilities.

Resolved – That the report be noted.