We have reported in the past on the lack of clarity with the information provided by Luton Borough Council to its own Auditors for the year 2018/19. Also, the Auditors have had issues with how the Development Consent Order was funded and the valuation of the airport.
After 5 years of refusing to sign off the accounts, the Auditors have taken the unusual step of issuing a Public Interest Report. This report explains the reasoning for their decisions. LBC’s former Auditors Ernst & Young said the “inability of the authority to produce materially accurate financial statement should be brought to the attention of the residents of Luton”. “This public interest report has been produced prior to issuing our opinion on the 2018/19 Financial Statements, which haven’t been approved yet”.
This was picked up in the media including the BBC and the local newspaper.
https://www.bbc.co.uk/news/articles/c0e1d1pdy82o
The Auditors attended the Audit & Governance Committee of the Council on 9th October 2024 and gave an oral report from 6 minutes 25 seconds into the recording.
As always, when we reference Council Meetings, we will not pass comment, but we will let the Auditor’s and LBC’s own words help the reader form their own opinions.