Issue - meetings

To consider the report

To accept the Gwynedd Pension Fund Audit Plan for the year ending 31 March 2022 (undertaken by Audit Wales).

Yvonne Thomas (Audit Wales) was welcomed to the meeting.

The Audit Wales plan for 2022 was submitted, noting the work intended to be completed during the year, in line with the statutory responsibility they held as external auditors. Reference was made to the need to audit the pension fund's accounts, with the aim of identifying relevant misstatements, as well as the risks associated with the financial audit. Reference was made to the content of the performance auditing programme, offering an overview of the work to be done, the fees and the proposed timetable, and it was highlighted that a Statement of Responsibilities would be submitted, detailing matters and offering more information on the Auditors' work.

It was reported that the Covid-19 pandemic was continuing to have an unprecedented impact on the United Kingdom and on the work of the public sector, and Audit Wales was continuing to monitor the situation and discuss the implications of any changes with officers. It was highlighted that the risks noted were ones that were relevant to every plan and were not unique to Gwynedd and that the increase in fees was due to the need to continually invest in the quality of the audit work in response to increasing pressures and costs.

The members expressed their thanks for the report and to Yvonne Thomas for attending the meeting. A willingness to collaborate was expressed along with an appreciation that the Audit Wales Team were fluent in Welsh, and it was noted that this was to be welcomed.

RESOLVED:

To accept the Gwynedd Pension Fund Audit Plan for the year 31 March 2022 (which is undertaken by Audit Wales).