Minutes:
The Chair asked Nicola Morton, Head of Local Government Finance, to introduce the report and the LGA response to the consultation.
Nicola explained that this consultation was the second part of a two stage process being undertaken by the National Audit Office (NAO) and that the LGA’s response to the first part of the consultation was approved at the May 2019 meeting of the Resources Board. She said that whilst the first stage of the process was a high level consultation on some of the broader issues, the second stage looked at the actual draft text for the new code.
Nicola said that the main substantive changes in the new code related to the value for money opinion, and the scope of the value for money conclusion. She explained that it moved away from a straight yes / no opinion on the arrangements for securing value for money and instead required the auditor to give a commentary on arrangements for securing value for money.
Nicola went on to outline the main points of the LGA’s response to the consultation.
Decision:
· Resources Board approved the submission to the NAO consultation.