The Audit Committee of Bath and North East Somerset Council is scheduled to meet on Wednesday, 24 September 2025, to discuss the council's audit findings, annual reports, and treasury management. The meeting will cover the audit of the council's accounts, the Avon Pension Fund, and a review of the committee's work plan. Councillors will also discuss the external audit and risk management.

External Audit Annual Report

The Audit Committee will receive an update from the external auditor on the Annual Audit Report, as detailed in Appendix 1 of the agenda. The report includes a Value For Money (VFM) assessment for the council. The report pack states that Grant Thornton, the council's external auditor, identified a significant weakness in the authority's arrangements for managing the ongoing Dedicated Schools Grant deficit¹.

Audit Findings Report

The Audit Committee will receive the Audit Findings Report, which summarises the results of Grant Thornton's audit of the 2024/25 statement of accounts. The report pack includes the Audit Findings Report and several appendices: Appendix 1, Appendix 2, Appendix 3, Appendix 4 and Appendix 5. The report includes issues arising from the audit of the financial statements and those issues that Grant Thornton are formally required to report. The report pack also includes the Audited Statement of Accounts, the Letter of Representation for Bath & North East Somerset Council, and the Letter of Representation for the Avon Pension Fund.

The Audit Committee will be asked to note the issues contained within the Audit Findings Reports and to approve the audited Statement of Accounts, including the Letters of Representation for both Bath & North East Somerset Council and the Avon Pension Fund for 2024/25. The report pack indicates that authority may be delegated to Councillor David Biddleston, Chair of the Audit Committee, in consultation with the Section 151 Officer², to approve any amendments to the Statement of Accounts, below the audit materiality threshold, arising from the concluding stages of Grant Thornton's audit.

Treasury Management Outturn Report

The Audit Committee will review the Treasury Management Outturn Report for 2024/25. The report pack states that the council approved the 2024/25 Treasury Management Strategy in February 2024, and that the council ended the year with £275.71m in total borrowing and £32.6m in total investments. The report pack also indicates that all Treasury Management Indicators are within target levels. The report includes Appendix 5, the economic and market review for 2024/25 from the council's Treasury Management Advisor, Arlingclose.

Annual Report of the Audit Committee

The Audit Committee will be asked to agree the Annual Report covering the period May 2024 – April 2025, as detailed in Appendix 1 of the agenda. The report pack states that the Head of Audit & Assurance has written a report asking the Committee to agree the report and ask the Chair of the Committee to present it to the November meeting of the Council.

Audit Committee Workplan

The Audit Committee will be asked to note the draft workplan for 2025/26, as detailed in Appendix 1 of the agenda. The report pack states that the workplan ensures that the terms of reference for the Committee are appropriately delivered and that the workplan is kept under ongoing review.