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Internal Audit Report Watchfield Parish Council Oxfordshire. Internal Audit Final Report PowerPoint PPT Presentation


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Page 1. This document remains the intellectual property of Arrow Accounting and may not be copied, or used without their prior written approval Use of any material within this document must be accredited to Arrow Accounting . Internal Audit Report Watchfield Parish Council Oxfordshire.

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Internal Audit Report Watchfield Parish Council Oxfordshire. Internal Audit Final Report

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Internal audit report watchfield parish council oxfordshire internal audit final report

Page 1

This document remains the intellectual property of Arrow Accounting and may not be copied, or used without their prior written approval Use of any material within this document must be accredited to Arrow Accounting .

Internal Audit Report

Watchfield Parish Council

Oxfordshire.

Internal Audit Final Report

2011-12

13th July 2012

PDate: Sept 2010


Report index

Page 2

Report Index

Introduction

Introduction

Scope of the Internal Audit.

Findings, recommendations and action plan

(i) Primary Controls and Annual Requirements.

(ii) Good Practice

(iii) Primary Audit Requirements.

Internal Auditors summary report.

An internal audit review of Watchfield Parish Council’s Financial controls for 2011/12 has been undertaken by Arrow Accounting. The work covered was a key control review of the systems in place for ensuring an adequate level of Governance and Financial control. Sample testing of transactions to ensure compliance in all areas of Council management was undertaken and aimed to evaluate the systems and identify risks and any associated weaknesses. Previous recommendations were followed-up.


Scope of the internal audit

Page 3

Scope of the Internal Audit

The review included the following:-  

o Bookkeeping Arrangements. Page 4

o Payments in relation to Financial Regulations. Page 4

o Review of Internal Controls.Page 5

o Budgetary Controls. Page 6

o Expected Income fully received and properly recorded. Page 6

o Petty Cash levels and payments supported and approved.Page 6

o Payroll Controls, salaries & fees.Page 7

o Asset Controls. Page 7

o Bank Reconciliations.Page 7

o Accounting StatementsPage 7

o Trust Funds (If applicable). Page 8

o Application of LG Spending Powers.Page 8

o Policies review. Page 8

o Review and completeness of minutes. Page 8

o Review and completeness of audit action plans.Page 9

o Year End ProceduresPage 10,11,12


Findings recommendations and action plan

Page 4

Findings, recommendations and action plan


Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal audit report watchfield parish council oxfordshire internal audit final report

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Internal auditors summary report

Page 13

Internal Auditors Summary Report

Watchfield Parish Council has an electorate in the region of 1219 and the precept for 2011/112 was set at £22,000.

Overall, the Council has sound arrangements in place to satisfy itself that its systems of internal financial control are both adequate and effective. There are approval and authorisation controls and there is a clear audit and management trail for financial transactions.

Phil Hood

Arrow Accounting

(Internal Audit)

13th July 2012


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