Highlands and Islands Transport Partnership - Annual report on the 2011/12 audit

Sep 13, 2026

Annual report on the 2011/12 audit of Highlands and Islands Transport Partnership, prepared for members and the Controller of Audit in October 2012. The report summarizes the auditor’s opinions on the financial statements, associated conclusions, and significant audit issues. It explains audit purpose, accountability and reporting responsibilities, outlines how internal controls and stewardship are assessed, and describes the audit opinion, legality considerations, and key areas such as financial position, results, governance and performance.

LanguageEnglish

CategoryGeneral

FormatPDF

Pages12

Reading Time4 min

AccessFree to download

Introduction

Financial statements

Audit opinion

Accounting issues

Financial position

Financial results

Outlook

Governance and accountability

Corporate governance

Prevention and detection of fraud and irregularities

Best Value, use of resources and performance

Management arrangements

National performance reports

Outlook

Highlands and Islands Transport Partnership Annual report on the 2011/12 audit Prepared for members of Highlands and Islands Transport Partnership and the Controller of Audit October 2012 Audit Scotland is a statutory body set up in April 2000 under the Public Finance and Accountability (Scotland) Act 2000. It provides services to the Auditor General for Scotland and the Accounts Commission. Together they ensure that the Scottish Government and public sector bodies in Scotland are held to account for the proper, efficient and effective use of public funds. Contents Introduction ................................................................................................................................... 4 Financial statements .................................................................................................................... 5 Audit opinion ..................................................................................................................... 5 Accounting issues ............................................................................................................. 6 Financial position ......................................................................................................................... 7 Financial results ................................................................................................................ 7 Outlook.............................................................................................................................. 8 Governance and accountability ................................................................................................... 9 Corporate governance....................................................................................................... 9 Prevention and detection of fraud and irregularities ......................................................... 10 Outlook............................................................................................................................ 10 Best Value, use of resources and performance........................................................................ 11 Management arrangements ............................................................................................ 11 National performance reports .......................................................................................... 12 Outlook............................................................................................................................ 12 Introduction 1. This report summarises the findings from the 2011/12 audit of Highlands and Islands Transport Partnership (the Partnership) . The nature and scope of the audit were outlined in the Audit Plan presented to the Partnership Board in April 2012, and follow the requirements of the Code of Audit Practice prepared by Audit Scotland in May 2011. The purpose of the annual audit report is to summarise the auditor’s opinions (i.e. on the financial statements) and conclusions, and to report any significant issues arising. The report is divided into sections which reflect the public sector audit model. 2. Audit is an essential element of accountability and the process of public reporting. This report is addressed to members and the Controller of Audit and should form a key part of discussions with the Partnership Board. The report will be published on our website and its information may be used for the Accounts Commission's annual overview report on local authority audits. The overview report is published and presented to the Local Government and Regeneration Committee of the Scottish Parliament. 3. The management of the Partnership is responsible for preparing financial statements that show a true and fair view and for implementing appropriate internal control systems. The auditor is responsible for auditing and expressing an opinion on the financial statements. Weaknesses or risks i

FAQs

What is the purpose of the annual audit report for 2011/12?

It summarizes the auditor’s opinions on the financial statements and the auditor’s conclusions, and reports any significant issues arising from the audit.

Who is the report addressed to and how is it intended to be used?

It is addressed to members and the Controller of Audit and should be a key part of discussions with the Partnership Board, with publication on the auditors’ website.

What responsibilities are described for management and the auditor?

Management prepares financial statements showing a true and fair view and implements internal control systems, while the auditor audits the financial statements and expresses an opinion.

Sep 13, 2026

Upload by Quinn Holloway