Oldham set to beat 50-year accounting record

29 May 14

Oldham Council is set to become the quickest local authority to close its accounts in 50 years following final approval by its audit committee.

The authority announced today that final sign-off had been given to the accounts last night, and they have now been published on the council's website.

Formal confirmation of the close will come from the Audit Commission later this year, but yesterday’s sign-off beat last year's close of May 31, which was the first in the country.

According to independent information from CIPFA, confirmed sign-off for May 28 would also make it the quickest approval for any local government body in the past 50 years’ of records.

Cabinet member for finance Abdul Jabbar said: ‘Oldham Council is well on course to significantly raise the bar again in public finance standards.

‘Each year our finance team set out to work smarter and faster, while also rigorously maintaining pinpoint accuracy.’

He said robust accounting meant the authority was able to meet its ongoing financial challenges and deliver value for money. ‘Reliable financial data helps us spot issues quicker and take any preventative action needed to stop any potential waste. It also helps us plan ahead smarter.’ 

It was announced earlier this month that auditor Grant Thornton had won CIPFA’s Cliff Nicholson Award in recognition of the firm’s work with Oldham Council to quicken sign-off of the accounts.

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