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We published a report on ‘Financial Management and Governance in Community Councils’.
Community councils in Wales manage significant sums of money and hold significant values of reserves and assets which is likely to increase in future. Some of the issues identified in the report include:
Auditors reported on a number of recurring matters that councils across Wales could learn from. As a result of this, we held a webinar to share examples of learning and good practice, in particular focusing on budgeting and internal audit. The webinar brought together the most up-to-date practices from across Wales and beyond.
The report found that there remains scope for community councils in Wales to develop and improve financial management and governance particularly in relation to the quality of their financial reporting, financial management and internal audit arrangements.