Annual Audit Letter 2001-02

kpmgReading Borough CouncilAnnual Audit LetterAudit of Accounts 2001/0231 January 2003KPMG LLPThis report contains 21 pagesAppendices contain 5 pageskpmg Reading Borough CouncilAnnual Audit LetterKPMG LLP31 January 20031 Executive summary 11.1 Purpose of this letter 11.2 The 2001/02 audit year 11.3 Challenges for the coming year 11.4 Status of this letter 22 Performance management 32.1 Comprehensive Performance Assessment/ Inspections 32.2 Best value Performance Plan (BVPP) 42.3 Performance information 42.4 Early retirement follow up review 52.5 IS&T arrangements 53 Financial aspects of corporate governance 83.1 Financial standing 83.2 Systems of internal financial control 93.3 Fraud and corruption 103.4 Legality of transactions with a financial consequence 114 Accounts 124.1 Audit opinion 124.2 Issues arising from the audit 124.3 Comments on accounting treatment 12kpmg Reading Borough CouncilAnnual Audit LetterKPMG LLP31 January 2003AppendicesAppendix A: Audit objectives 13Appendix B: Summary of recommendations 14Appendix C: Status of 2000/01 recommendations 17kpmg Reading Borough CouncilAnnual Audit LetterKPMG LLP31 January 2003having either promising or excellent prospects for1 Executive summary improvement;ü taking robust steps to refresh and renew its corporategovernance arrangements and starting to develop its risk1.1 Purpose of this lettermanagement process;ü the Council receiving a positive IDEA peer review; ...