MPA Annual Governance Report

Financial statements
The Authority's financial statements and annual governance statement are important means by which the
Authority accounts for its stewardship of public funds. As Authority members you have final responsibility for
these statements. It is important that you consider my findings before you adopt the financial statements and
the annual governance statement.
Opinion on the financial statements
5 Subject to satisfactory clearance of outstanding matters listed at paragraph 6 below, I plan to issue an audit report including an unqualified opinion
on the financial statements by 30 September 2011. Appendix 1 contains a copy of my draft audit report.
Status of audit work
6 The following areas of audit work are outstanding at the date of my report:
− testing the Authority's group accounts submission to the GLA and Whole of Government Accounts (WGA) submission to Communities and
Local Government;
− reviewing a revised set of statements to ensure finance officers have made all agreed audit adjustments; and
− receiving the signed Letter of Representation following Authority consideration on 15 September 2011.
7 I expect to complete all outstanding work before 30 September 2011. Should any significant matters arise in finishing the outstanding work, I will
raise them with the MPA Treasurer, MPS Director of Resources and the Chair of the Corporate Governance Committee.
Letter of representation
8 Before I issue my opinion, auditing standards require me to ask you and management for written representations about your financial statements
and governance arrangements. Appendix 3 contains the draft letter of representation.
Audit Commission Annual governance report 5