Croydon Council has once again failed to meet the statutory deadline for publishing its final accounts, as revealed in the Audit & Governance Committee meeting on Tuesday 29 July 2025. This marks another instance where the council has been unable to provide timely financial transparency to its residents.

The 2023-24 accounts, which were due to be published by 28 February 2025, were not ready for the deadline, prompting the council to issue a notice on its website explaining the delay. The draft accounts were subsequently published on 2 June 2025, initiating a public inspection period that concluded on 11 July 2025. The report presenting the 2023-24 Statement of Accounts was on the agenda for the Audit & Governance Committee meeting.

This delay is attributed to cumulative issues from previous years, including a Met Police investigation into potential fraud, and difficulties in obtaining MHCLG approval for capitalisation directions. The auditor, Grant Thornton, plans to issue a disclaimer of opinion due to these unresolved issues. Should Grant Thornton issue a disclaimer of opinion, the council will remain on a published list of authorities that missed the statutory deadline.

Despite the delay, the council sought an independent review from the Charted Institute of Public Finance and Accountancy (CIPFA). The review aimed to assess compliance and identify areas for improvement in the draft 2023-24 accounts. The report noted that the majority of accounts were prepared correctly, with only minor areas needing attention.

Paul Dossett from Grant Thornton stated at the meeting that, due to the missed backstop, auditors could only sign off once the accounts were approved and published. He added that the team is fully prepared to audit 2024/25 once draft accounts are shared.

Key areas of focus for the committee included the ongoing challenges with financial sustainability, governance, and improving economy, efficiency, and effectiveness. The report pack also highlighted the need for continued improvement in housing services and contract management. To that end, the council is working to strengthen the quality and accuracy of its housing data, ensure robust management of repairs, heating and void contractors to maintain high performance levels, and establish an improved structure for tenant and resident engagement.

Dr Olu Olasode, chair of the Audit & Governance Committee, emphasised the importance of a thorough audit of the accounts to ensure public and member confidence. The committee delegated authority to Jane West, Corporate Director of Resources and Section 151 Officer, in consultation with the Chair, to sign the 2023-24 letters of representation and the final accounts.

While the council works to address the backlog and improve its financial processes, the delay in publishing the final accounts remains a concern for residents and stakeholders. The Audit & Governance Committee will continue to monitor the situation and work towards ensuring timely and transparent financial reporting in the future.

The Audit & Governance Committee also discussed the Target Operating Model, progress on the Annual Governance Statement, and the Internal Audit Strategy at the meeting, but these will be covered in separate reports.