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Consolidated Resource Accounts For the year ended 31 March 2004
Report of the Auditor General for Scotland to the Scottish Parliament
I have audited the financial statements under the Public Finance and Accountability (Scotland) Act 2000. These financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and the accounting policies set out.
This report is made solely to the Scottish Parliament in accordance with the Public Finance and Accountability (Scotland) Act 2000 and the Code of Audit Practice approved by me and for no other purpose, as set out in paragraph 43 of the Statement of Responsibilities of Auditors and of Audited Bodies prepared by Audit Scotland, dated July 2001.
Respective responsibilities of the Accountable Officer and Auditor
As described the Accountable Officer is responsible for the preparation of the financial statements and for ensuring the regularity of financial transactions. The Accountable Officer is also responsible for the preparation of the other contents of the annual accounts. My responsibilities, as independent auditor, are established by the Public Finance and Accountability (Scotland) Act 2000 and guided by the auditing profession's ethical guidance and the Code of Audit Practice, which was prepared by Audit Scotland and approved by me.
I report my opinion as to whether the financial statements give a true and fair view and are properly prepared in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers and whether, in all material respects:
- the expenditure and receipts shown in the financial statements were incurred or applied in accordance with any applicable enactments and guidance issued by the Scottish Ministers, the Budget (Scotland) Act covering the financial year and sections 4 to 7 of the Public Finance and Accountability (Scotland) Act 2000; and
- the sums paid out of the Scottish Consolidated Fund for the purpose of meeting the expenditure shown in the financial statements were applied in accordance with section 65 of the Scotland Act 1998.
I also report if, in my opinion, the Foreword is not consistent with the audited financial statements, if the Scottish Executive has not kept proper accounting records, or if I have not received all the information and explanations I require for my audit.
I review whether the statement reflects the Scottish Executive's compliance with its own guidance on statements on the system of internal control. I report if the statement does not comply with the guidance, or if the statement is misleading or inconsistent with other information I am aware of from my audit. I am not required to consider whether the statement covers all risks and controls or form an opinion on the effectiveness of the Scottish Executive's corporate governance procedures or its risk and control procedures.
Basis of audit opinions
I conducted my audit in accordance with the Public Finance and Accountability (Scotland) Act 2000 and the Code of Audit Practice, which requires compliance with relevant United Kingdom Auditing Standards issued by the Auditing Practices Board.
An audit includes examination, on a test basis, of evidence relevant to the amounts, disclosures and regularity of expenditure and receipts shown in the financial statements. It also includes an assessment of the significant estimates and judgements made by the Scottish Executive and the Accountable Officer in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Scottish Executive's circumstances, consistently applied and adequately disclosed.
I planned and performed my audit so as to obtain all the information and explanations which I considered necessary in order to provide me with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement, whether caused by fraud or other irregularity or error, and that, in all material respects, the expenditure and receipts shown in the financial statements were incurred or applied in accordance with any applicable enactments and guidance issued by the Scottish Ministers. In forming my opinion I also evaluated the overall adequacy of the presentation of information in the financial statements.
Opinions
Financial statements
In my opinion the financial statements give a true and fair view of the state of affairs of the Scottish Executive and the consolidation of the entities within the departmental accounting boundary at 31 March 2004 and of the consolidated net resource outturn, resources applied to aims, recognised gains and losses and cash flows for the year then ended and have been properly prepared in accordance with the Public Finance and Accountability (Scotland) Act 2000 and directions made thereunder by the Scottish Ministers.
Regularity
In my opinion, in all material respects:
- the expenditure and receipts shown in the financial statements were incurred or applied in accordance with any applicable enactments and guidance issued by the Scottish Ministers, the Budget (Scotland) Act covering the financial year and sections 4 to 7 of the Public Finance and Accountability (Scotland) Act 2000; and
- the sums paid out of the Scottish Consolidated Fund for the purpose of meeting the expenditure shown in the financial statements were applied in accordance with section 65 of the Scotland Act 1998.
Robert W Black 110 George Street
Auditor General for Scotland Edinburgh
15 December 2004
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