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Treasury management issues ‘increasingly causing’ audit backstop date failures

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An increasing amount of local authority audits are being held up by treasury management issues, with some resulting in a failure to meet statutory backstop dates.

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Mark Swallow, director at Arlingclose, has said that what were once considered “technical or peripheral areas” are now “proving material to financial statements and

Clackmannanshire Council has been warned to urgently address pressures in its finance team which have seen the authority fail to meet its accounts deadline for the last five years, posing a “significant risk” to its financial governance.

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