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4.12.10 Annual Audit Letter - Accounts Not Able To Be Signed Off

A report to the councils Audit and Corporate Governance committee titled Audit Commission - Annual Audit Letter from the councils Director of Finance dated 2 Dec 2010, states:
  • The absence of "Related Party Transactions" (RPT) of former members of the council who where not returned to the council at the May 2010 council. A RPT is a business deal between two parties who have a special relationship prior to the deal, such as a business transaction between a major shareholder and the corporation*. Ref* HERE.
  • The external Auditor (The Audit Commission) is not able to issue a Audit Certificate due to unresolved objections from local electors to the councils 2009-10 accounts.
  • The councils previous external Auditors Deloitte have not been able to issue Audit Certificates for previous years Audit work.
The Audit Commission (who have a special relationship with Camden Council?) has been the councils chosen external auditor for the 2008/9 and 2009/10 financial years.

The Audit Commission stated in an earlier report that they haven't as yet 'processed' objections from local electors to the council 2009/10 accounts. And according to the director of finance report (above linked) states the cost of objections to the councils 2008/9 and 2009/10 as zero. Does this mean that objections haven't been investigated?

This makes me wonder whether or not the Audit Commission can state as a matter of fact that there is no material impact on the councils accounts from these objections?

The Annual Letter from the Audit Commission HERE.