When you're allowed to look at and ask questions about our accounts
Audit of accounts year ended 31 March 2019
The external audit of the draft statement of accounts for the year ended 31 March 2019 has not yet been completed by our external auditors, EY LLP. This situation is allowed for by Regulation 10, paragraph (2a) of the Accounts and Audit Regulations 2015.
We did not publish our pre-audited draft accounts by the 31 May 2019 (in accordance with Regulations 9 and 14 of the Accounts and Audit Regulations 2015). This was due to clarification issues of business relationships surrounding King’s Lynn Innovation Centre (KLIC) and other operational and resourcing matters. The pre-audited draft financial statements were subsequently published on 18 June 2019.
As a consequence of this delay and EY’s resourcing pressures, the external audit has been rescheduled. The external audit will need to consider the additional audit risks associated with the King’s Lynn Innovation Centre.
Therefore, this notification explains, as per paragraph (2a), that we are not yet able to publish our audited 2018/19 final statement of accounts in line with deadline of 31 July 2019, as per paragraph (1).
UPDATE: Due to the current COVID-19 pandemic, the 2018/19 audit has still not concluded and the results still need consideration by Audit Committee. Once the audit is complete, we will publish the final audited accounts.
Deferral of audit of accounts 2019/20 - Notice of public rights
Accounts and Audit Regulations 2015, Regulations 14 & 15 and the Local Audit and Accountability Act 2014 Regulations 26, 27 & 28 as amended by: The Accounts and Audit (Coronavirus) (Amendment) Regulations 2020.
Due to the current COVID-19 pandemic the timescales included in the above legislation have been amended.
Under the existing regulations the inspection period for the accounts must include the first 10 working days of June. During this time any person may inspect our annual accounts including certain related supporting documents. The inspection period and appointed day will be published on our website.
To give authorities more flexibility, the requirement for the public inspection period to include the first 10 working days of June has been removed. Instead, for 2019/20, authorities must commence the public inspection period on or before the first working day of September 2020.
In line with these revised regulations the inspection period for the 2019/20 will be published at a later date.