In our previous articles we have highlighted how the Auditors of the Accounts of Luton Borough Council (LBC), had cause to raise concerns on their accuracy, which required them to file Public Interest Notices.
A Public Interest Notice (PIN) in auditing refers to a report made by a local Auditor, during the Audit of an Authority’s Accounts. The report is considered in the Public Interest and can be brought to the attention of both the public and the authority itself.
A PIN is made to ensure accountability and transparency in the financial reporting process. It allows for the public to have access to information, which may not be available to them otherwise. The notice serves to inform the public about matters, which may affect their interests, such as financial misconduct, misrepresentation, or significant changes in an authority’s financial condition, and by making a PIN, auditors can provide a safeguard for the public’s confidence in the integrity of the financial reporting process.
At this point, let us remember that at all Committee meetings held by LBC, when they discuss anything regarding Luton Rising, particularly its finances, the public are excluded, either by removal from the public gallery or by the muting/blackout of online coverage.
We first became aware of the Auditor concerns with accounts for the year 2018/19, as LBC Auditors at that time, Ernst & Young (EY), included in their audit, a Disclaimer of Opinion (DOP), which is like a PIN, and serves to show that they could not form an opinion on the accuracy, fairness and validity of LBC’s financial statements. Their DOP on the LBC 2018/19 accounts can be found on Page 38 here:-
All LBC accounts can be found on the above link, so now we’ll look at subsequent years, and if the auditors lodged a PIN or DOP on subsequent year’s accounts
For the year 2019/20, EY filed another DOP on the accounts, page 39.
For the year 2020/21, EY filed another DOP on the accounts, Page 40.
For the year 2021/22, EY filed another DOP on the accounts, Page 40.
For the year 2022/23, EY filed another DOP on the accounts, Page 38.
For the year 2023/24, Grant Thornton UK, new auditors, filed a DOP on the accounts, Page 38.
The unaudited accounts of 2024/25 can also be found on the above link.
As we have previously stated, we as a group do not have a background in finance, so we offer a simple summary of understanding, and the opportunity for anyone reading this who does have a financial/auditing background to comment to us if they so wish.
What appears to us is that LBC have embarked on an Airport Expansion at any cost policy through Luton Rising and have muddied the waters hoping that the Auditors would accept their accounts at face value.
For both EY and Grant Thornton to have substantial questions on the finances and to continue to raise concerns is a huge worry to us as residents of Luton, as to what the future holds for us all, due to the rampant and reckless behaviour of LBC and LR.