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Displaying 3032 contributions
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
Okay. I will now bring in Richard Leonard.
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
You are still in that year, so you do not have a figure.
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
Are all the audited bodies audited on the basis of three invoices a year?
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
On the back of Sharon Dowey’s questions, how have the delayed audits and changed deadlines impacted on cash flow? Where do they place you?
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
Substantially?
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
That is certainly worth considering. As you say, it seems to be an extremely important area that we need to explore.
I want to look at the related costs. My understanding is that, in the budget figures for next year, £148,000 is included for the initial stages of the project. However, on page 12 of the proposal, paragraph 48, which is on your budget projections, says that “At this stage”, that figure
“does not include the potential additional requirement to meet demand arising from the audit modernisation project.”
That implies that the 2025-26 and 2026-27 figures that you show do not reflect the potential costs of the modernisation project.
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
I would like to pick up on one or two points from our discussion. You said that the expectation is that what might be payable on pensions will be lower in the future, presumably because of bond yield changes and so on. I presume that the accounting for that will simply be a reduced contribution.
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
Several references have been made to the audit modernisation project, which is part of your strategic improvement programme. The commission would be interested to learn more about that if you are able to supply us with details that would give us better and more in-depth information.
Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
As members have no other questions, I thank Stephen Boyle, Alan Alexander, Martin Walker and Stuart Dennis for attending the meeting.
11:59 Meeting continued in private until 12:36.Meeting of the Commission
Meeting date: 11 December 2023
Colin Beattie
Over what period is that?