London Borough of Waltham Forest: the local authority that can’t even finalise its annual accounts (1)
Every year, like other local authorities, LBWF is bound by law to produce its annual accounts, using an external auditor and a timetable specified by the Accounts and Audit Regulations of 2015. But this year, the procedure has gone wrong, indeed very wrong, and now there is a lively post mortem in progress about who is to blame, and what are the likely consequences. As regards the 2018-19 audit, LBWF knew the specified time frame well beforehand. Unaudited accounts were due by 31 May 2019, and audited accounts by 31 July 2019, so that the latter then could be signed off by the Audit and Governance Committee. However, it has recently emerged that LBWF’s auditor, Ernst and Young LLP (hereafter... »