Audit of accounts – public notice

Devon County Council and Devon Pension Fund

Audit of Accounts, year ended 31 March 2021

The Accounts and Audit Regulations 2015 – Regulation 10, as amended by The Accounts and Audit (Amendment) Regulations 2021

The audit of the draft statement of accounts for the year ended 31 March 2021 for Devon County Council and Devon Pension Fund has not yet been completed by the external auditors, Grant Thornton UK LLP. The Accounts and Audit (Amendment) Regulations 2021 require that the audited accounts and opinions are published by 30 September 2021.

The delay has arisen due to a combination of factors, comprising the following:

  • the impact of Covid-19 on both the complexity of the audit and the pace at which it can be completed;
  • the increased assurance work that auditors are required to carry out nationally with respect to pensions, asset valuations and other key accounting estimates; and
  • a complex and serious issue regarding the accounting for infrastructure assets that will impact on all local authorities with material infrastructure assets.

The Chartered Institute of Public Finance and Accountancy (CIPFA) is currently looking at this issue and expects to complete its review by the end June 2022. CIPFA has advised that its assistance in resolving this issue might take the form of producing additional guidance, or including clarifications in the accounting code.

Devon County Council has material infrastructure assets and the audit work cannot be completed until after CIPFA’s review has been completed and any further audit work that may be necessary as a result of this undertaken

Therefore, this notice of delayed audit is being published in accordance with Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015. For further information please see the website.

Angie Sinclair
Director of Finance
Devon County Council
County Hall
Topsham Road

21 April 2022