- What is the Annual Statement of Accounts?
Annual Statement of accounts sets out the overall financial
position of the London Borough of Newham Council and records
financial transactions for the year ending 31st March. The Accounts
show the sources of income available and how they have been used in
the provision of services. Accounts are presented in accordance
with statutory requirements under the Accounts and Audit
Regulations 2003 and the Code of Practice on Local Authority
Accounting in Great Britain, Statement of Recommended Practice
(SORP) produced by the Chartered Institute of Public Finance and
- Why is Annual Statement of Accounts produced?
The Council is required by law to produce an annual statement of
accounts. The main purpose is to explain to Council taxpayers how
their money has been managed and to demonstrate that the Council
has complied with the requirements of the Audit Commission as to
how this has been achieved.
- When and how often are the accounts produced?
Produced once at the end of every financial year. Accounts must
be completed by June end, audited by September end during the year
following the financial year covered by the accounts. These are
available on the council web-site along with other financial
- Can I inspect the accounts?
You are entitled to inspect the Statement of Accounts in
accordance with legislative requirements and the Accounting Code of
Practice. When the Council has finalised its accounts for the
previous financial year, it will advise that the accounts are
available for people to inspect. You have 20 working days in July
and August to look through the accounts and any supporting
documentation. You can get copies of the accounts and supporting
documents that are relevant to the accounts and are not legally
- Do I have the right to object to the accounts?
If you think that the Council has spent money unlawfully, you
can object to the auditor by sending them a formal 'notice of
objection', which must be in writing. You must tell the auditor why
you are objecting. If you need more specific detail, you should
refer directly to the acts, regulations and other documents
mentioned in the text of the Audit Commission document
- Who can I contact about the accounts?
If you have any comments on the Statement of accounts, then
please send them to the Chief Accountant. Email:
email@example.com or phone on 020 8430 2000 / extension