Statement of accounts 2006-07

More documents

Recommendations

Info

6Audit OpinionI planned and performed my audit so as to obtain allthe information and explanations which I considerednecessary in order to provide me with sufficientevidence to give reasonable assurance that the financialstatements are free from material misstatement,whether caused by fraud or other irregularity or error.In forming my opinion I also evaluated the overalladequacy of the presentation of information in thefinancial statements.OpinionIn my opinion:• The financial statements present fairly, inaccordance with applicable laws and regulationsand the Statement of Recommended Practice onLocal Authority Accounting in the United Kingdom2006, the financial position of the Authority as at31 March 2007 and its income and expenditurefor the year then ended; and• The police pension fund accounting statementspresent fairly, in accordance with the Statementof Recommended Practice on Local AuthorityAccounting in the United Kingdom 2006, thefinancial transactions of the police pension fundduring the year ended 31 March 2007, and theamount and disposition of the fund’s assets andliabilities as at 31 March 2007, other than liabilitiesto pay pensions and other benefits after the end ofthe scheme year.Michael Haworth-MadenDistrict AuditorAudit Commission1st Floor, Millbank TowerMillbankLondon SW1P 4HQ28 September 2007
7Audit OpinionConclusion on arrangements for securing economy,efficiency and effectiveness in the use of resourcesAuthority’s responsibilitiesThe Authority is responsible for putting in placeproper arrangements to secure economy, efficiencyand effectiveness in its use of resources, to ensureproper stewardship and governance, and to regularlyreview the adequacy and effectiveness of thesearrangements.Under the Local Government Act 1999, the Authorityis required to prepare and publish a best valueperformance plan summarising the Authority’sassessment of its performance and position in relationto its statutory duty to make arrangements to ensurecontinuous improvement in the way in which itsfunctions are exercised, having regard to a combinationof economy, efficiency and effectiveness.Auditor’s responsibilitiesI am required by the Audit Commission Act 1998 to besatisfied that proper arrangements have been madeby the Authority for securing economy, efficiencyand effectiveness in its use of resources. The Codeof Audit Practice issued by the Audit Commissionrequires me to report to you my conclusion in relationto proper arrangements, having regard to relevantcriteria specified by the Audit Commission for policeauthorities. I report if significant matters have come tomy attention which prevent me from concluding thatthe Authority has made such proper arrangements. Iam not required to consider, nor have I considered,whether all aspects of the Authority’s arrangementsfor securing economy, efficiency and effectiveness inits use of resources are operating effectively.I am required by section 7 of the Local GovernmentAct 1999 to carry out an audit of the Authority’s bestvalue performance plan (‘Policing London Plan’) andissue a report:• certifying that I have done so;• stating whether I believe that the plan has beenprepared and published in accordance withstatutory requirements set out in section 6 ofthe Local Government Act 1999 and statutoryguidance; and• where relevant, making any recommendationsunder section 7 of the Local Government Act1999.Qualified conclusionI have undertaken my audit in accordance with theCode of Audit Practice and having regard to thecriteria for police authorities specified by the AuditCommission and published in December 2006, I amsatisfied that, in all significant respects, the MetropolitanPolice Authority made proper arrangements to secureeconomy, efficiency and effectiveness in its use ofresources for the year ended 31 March 2007, exceptfor putting in place adequate arrangements to maintaina sound system of internal control.Best Value Performance PlanI issued my statutory report on the audit of theAuthority’s best value performance plan (PolicingLondon Plan) for the financial year 2006/07 inNovember 2006. I did not identify any matters tobe reported to the Authority and did not make anyrecommendations on procedures in relation to theplan.CertificateI certify that I have completed the audit of the accountsin accordance with the requirements of the AuditCommission Act 1998 and the Code of Audit Practiceissued by the Audit Commission.Michael Haworth-MadenDistrict AuditorAudit Commission1st Floor, Millbank TowerMillbankLondon SW1P 4HQ28 September 2007
Page 1 and 2: Metropolitan Police AuthorityStatem
Page 3 and 4: 1Foreword to the AccountsForeword t
Page 5 and 6: 3The main variations against budget
Page 7: 5Audit OpinionIndependent Auditor
Page 11 and 12: 9Statement on System of Internal Co
Page 13 and 14: 11Identifying, assessing and managi
Page 15 and 16: 13Statement on System of Internal C
Page 17 and 18: 3 The average assurancescore on int
Page 19 and 20: 17Accounting PoliciesAccounting Pol
Page 21 and 22: 19Accounting PoliciesRevaluationsLa
Page 23 and 24: 21Income and Expenditure AccountThi
Page 25 and 26: 23Balance SheetThe balance sheet sh
Page 27 and 28: 25Notes to the Financial Statements
Page 29 and 30: 4 Employment CostsThe Authority has
Page 31 and 32: 2910 Gains and Losses on disposalTh
Page 33 and 34: 3115 Auditors RemunerationThe audit
Page 35 and 36: 33Notes to the Balance SheetA Fixed
Page 37 and 38: The financing of capital expenditur
Page 39 and 40: I ReservesThe reserves of the Autho
Page 41 and 42: M.P.C.S.W.F. - Metropolitan Police
Page 43 and 44: 41N Usable Revenue ReservesBalance
Page 45 and 46: Rent SmoothingA reserve set up to f
Page 47 and 48: 45This reserve reflects the actuari
Page 49 and 50: 47Notes to the Police Officer Pensi
Page 51 and 52: 49GlossaryNon Distributed CostsThis

Statement of accounts 2006-07

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?