The council meeting focused on auditing standards and financial oversight, with discussions on compliance to international auditing standards, adjustments to the statement of accounts, and the external audit plan for the upcoming year. The committee also reviewed past meeting minutes and approved the work program for the upcoming sessions.

1. Compliance to International Auditing Standards: The committee confirmed that the report on compliance accurately reflected the presentations and reports received over the past year. There were no new issues; the report was a summary of previously discussed items. This decision ensures that the committee remains aligned with international standards, reinforcing the council's commitment to transparency and accountability.

2. Adjustments to the Statement of Accounts for 2022-2023: Adjustments were noted, particularly concerning the valuation of council dwellings and pension liabilities. The discussion highlighted the ongoing challenges in financial reporting and the need for accuracy in public financial documents. The implications are significant as these adjustments affect the council's financial health portrayal and stakeholders' trust.

3. External Audit Plan for 2023-2024: The new external auditors, KPMG, presented their audit plan, emphasizing significant risks such as land valuation and management override of controls. The plan was noted, and discussions touched on the potential challenges due to the backlog in audits from previous years. This decision is crucial for setting the tone and expectations for the upcoming audit cycle, impacting how financial risks are managed.

4. Approval of Work Program: The committee approved the work program for future meetings, although some adjustments were suggested to better align with time scales and priorities. This organizational decision helps streamline committee operations and ensures focused oversight on pertinent issues.

Interesting Note: The transition to a new external audit firm (KPMG) and the discussion around the backlog of audits due to legislative changes added a layer of complexity and urgency to the meeting, reflecting broader challenges faced by public sector auditing.