30/07/2021

Notice to publish draft (subject to audit) financial accounts

Notice is given that the unaudited statement of accounts for the year ended 31 March 2021 has been published on the London Pensions Fund Authority’s website in advance of the revised statutory deadline for publication for 2021/22. The accounts are currently unaudited and may be subject to change.

The Accounts and Audit (Amendment) Regulations 2021 (“Regulations”) has amended the Accounts and Audit Regulations 2015, revising the commencement of the exercise of public rights period from the first 10 working days of June to on or before the first working day of August 2021. The publication date for the final audited statement of accounts has also been extended from the 31 July to 30 September 2021.

RIGHT TO INSPECT FINANCIAL ACCOUNTS

As a registered elector, you have legal rights to inspect, ask questions about and challenge items in the authority’s accounts.

These rights can only be exercised during a single 30 working-day period ('the inspection period') and are set out in the following sections of the Local Audit and Accountability Act 2014:

  • Section 25 – Inspection of statements of accounts
  • Section 26 – Inspection of documents
  • Section 27 – Right to make objections at audit
  • Section 28 – Declaration that item of account is unlawful

A guide to your rights is available on the National Audit Office website

NOTICE OF PUBLIC RIGHTS 

  1. Notice is hereby given under section 15(2)(b) of the Accounts and Audit Regulations 2015 that from 2 August to 10 September 2021 between 9.00am and 5.00pm Monday to Friday, any person interested may on reasonable notice inspect and make copies of the accounts of the authority for the year ended 31 March 2021 and all books, deeds, contracts, bills vouchers and receipts, except as provided for in Section 26(4) to 26(6) of the Local Audit and Accountability Act 2014 in relation to commercially confidential and personal information.

  2. The accounts and other documents will be available for inspection by mutual arrangement to raise questions and/or enable inspection during the period. Please contact LPFA’s Section 151 Officer via email: communications@lpfa.org.uk or telephone 07958 533 092 to make an appointment.

  3. From 2 August to 10 September 2021, a Local Government Elector or his/her representative has the opportunity to ask the auditor about the accounts.

  4. From 2 August to 10 September 2021, any such elector may make objections to the auditor under Section 27 of the Local Audit and Accountability Act 2014. The auditor can take action under:

    - Section 28 of the Local Audit and Accountability Act 2014, namely, to apply to the court for a declaration that an item is contrary to law, and/or
    - Section 24, paragraph 1 of Schedule 7 of the Local Audit and Accountability Act 2014, to make a report in the public interest.

  5. No objection may be made unless the auditor has previously received written notice of the proposed objection, specifying the facts on which the objector relies and the grounds on which the objection is being made. A copy of that written notice must also be sent by either email: communications@lpfa.org.uk or the following postal address:

    Michelle King
    LPFA Finance Director
    2nd Floor, 169 Union Street
    London
    SE1 0LL

  6. The auditor is Grant Thornton LLP. Please contact the auditor at the address given below to ask any questions and notices of objections. Written notice of a proposed objection must be in writing, and the grounds on which it is made must be sent to the auditor at the address given below.

    Grant Thornton UK LLP
    30 Finsbury Square
    London
    EC2P 2YU

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