Issue - meetings

To review the proposed audit and certification work that Ernst & Young LLP proposes to undertake in 2017-18 and the fees for this work.

The committee considered the report in the agenda (copy attached to the official minutes).

Mr Young (Ernst & Young LLP) presented the report. Mrs Belenger also responded to questions from members.

Mr Young advised that Public Sector Audit Appointments Ltd (PSAA) were still busy with the retendering exercise therefore the 2017-18 indicative fee had not yet been released however the 2016-17 fee should be used as an indication. EY had been awarded Lot 2 in the  tendering exercise by PSAA. Auditors would be appointed for a period of five years by PSAA after any necessary consultation with individual authorities, by 31 December 2017 at the latest. .

The committee made the following comments and received answers to questions as follows:

·             If the PSAA decides to rotate auditors it may be that EY will not be our auditors going forward.

·             An increase in the inflation rate would not be something which would trigger a fee increase.

RESOLVED

That the Ernst & Young LLP Audit and Certification Fees 2017-18 be noted.