Annual Audit and Inspection Letter

2005 Annual Audit and Inspection Letter Transport for London INSIDE THIS LETTER PAGES ** - ** • Executive Summary • Key messages • TfL’s performance • Accounts and Governance • Other work • Looking forwards • Closing remarks PAGES ** - ** Appendix 1 • Reports issued during 2004/05 Appendix 2 • Objectives of audit and inspection Appendix 3 • Audit and Inspection fees Reference: Final version Date: June 2006 2005 ANNUAL AUDIT AND INSPECTION LETTER • Working to bring the different parts of the organisation together. The approach to improvement planning adopted Executive Summary by TfL has provided a firm basis for the organisation moving forward. It covers the main areas for improvement identified in the The purpose of this letter Initial Performance Assessment report. This Annual Audit and Inspection Letter (AA&IL) On the whole realistic timescales have been set is presented by TfL’s Relationship Manager. The for the actions in the improvement plan. The letter summarises the conclusions and majority of the targets set by TfL for 2005 have been achieved. significant issues arising from our audit and inspection work at TfL in the period since the 2003/04 Annual Audit Letter was presented. The Accounts Both the Audit Commission and KPMG LLP have TfL produced its financial statements well within issued separate reports during the year having the statutory deadline and KPMG LLP issued ...