31 July 2018 Publication of statement of accounts, annual governance statement and narrative statement for 2017/2018 The External Auditor (Ernst & Young) (EY) is unable to issue their audit opinion by the 31 July 2018. The reasons for this are as follows: • Property, Plant & Equipment Valuations – Management use a 5 year rolling valuation programme to maintain the estimates of their asset base in accordance with the Chartered Institute of Public Finance and Accountancy (CIPFA) guidance, and use an externally contracted professional valuer to complete this revaluation cycle. EY’s initial work indicates their Property, Plant & Equipment valuation estimate, using indices provided by their expert, is outside of their acceptable tolerance range when compared with the carrying values recorded in the draft Statement of Accounts. This was first raised within the last two weeks of the audit timetable by the auditors. Management contest this, maintaining the valuations in the draft accounts remain robust, and have responded to EY with a technical paper. EY’s technical team are reviewing this and a response from the external auditors is expected within the week. • EY have experienced delays in completing their audit work programme to the envisaged timetable, which Management believes is a consequence of the later scheduling of the audit, and the resourcing of the external audit team, which has significantly contributed to the delay in issuing an audit opinion. Publication of statement of accounts, annual governance statement and narrative statement will be as soon as reasonably practicable after the receipt of any report from the auditor which contains the auditor’s findings from the audit which is issued before the conclusion of the audit. Chris Bland Chief Finance Officer for the Police and Crime Commissioner for Suffolk and Chief Constable of Suffolk Constabulary. 31 July 2018
