Annual Audit Opinion Plan

Agenda Item 4 Audit Opinion Plan Eastleigh Borough Council Audit 2009/10 7 Contents Introduction 3 Responsibilities 4 Fee for the audit of financial statements 5 Auditors report on the financial statements 6 Identification of specific risks 7 Testing strategy 9 Key milestones and deadlines 10 The audit team 11 Appendix 1 – Basis for fee 13 Appendix 2 – Independence and objectivity 14 Appendix 3 – Working together 16 Status of our reports The Statement of Responsibilities of Auditors and Audited Bodies issued by the Audit Commission explains the respective responsibilities of auditors and of the audited body. Reports prepared by appointed auditors are addressed to non-executive directors/ members or officers. They are prepared for the sole use of the audited body. Auditors accept no responsibility to: • any director/member or officer in their individual capacity; or • any third party. 8Introduction Introduction 1 This plan sets out the audit work that we propose to undertake for the audit of financial statements 2009/10. The plan is based on the Audit Commission’s risk-based approach to audit planning. It reflects: • audit work specified by the Audit Commission for 2009/10; • current national risks relevant to your local circumstances; and • your local risks. 3 Eastleigh Borough Council 9 Responsibilities Responsibilities 2 The Audit Commission’s Statement of Responsibilities of Auditors and of Audited ...