Value for Money Response Mobilisation Plan
Tower Hamlets Council is addressing significant financial weaknesses and a disclaimed audit opinion through its Value for Money Response Mobilisation Plan.
In March 2026, Tower Hamlets Council's Audit Committee discussed the external auditor's report for the 2024/25 financial year, which flagged 'red' assurance levels in key financial areas. External auditors EY reported significant weaknesses in financial reporting and internal controls, leading to a disclaimed audit opinion for the 2024/25 financial statements, as they could not obtain sufficient assurance over the council's financial position.
The council is addressing these issues through its Value for Money Response Mobilisation Plan, which aims to mitigate risks and address statutory recommendations. The Audit Committee reviewed the progress of an action plan in response to external recommendations in March 2026, following discussions in December 2025 on the council's response to statutory recommendations concerning financial reporting, internal controls, and procurement.
This plan, developed by Tower Hamlets Council, aims to coordinate and accelerate improvements related to value for money in internal investigations and addresses weaknesses identified by external auditors. It is supported by the council's Medium-Term Financial Strategy Risk Reserve.
Key facts
- Tower Hamlets Council received a disclaimed audit opinion for its 2024/25 financial statements. Source
- External auditors EY flagged 'red' assurance levels in several key financial areas in March 2026. Source
- EY reported significant weaknesses in financial reporting and internal control systems. Source
- Auditors could not obtain sufficient assurance over the council's financial position. Source
- EY was unable to complete planned audit procedures due to a management-imposed limitation of scope. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on. It describes what councils have discussed and decided; it does not take a view on any decision. Each key fact links to the story it comes from. Updated 1 October 2026. Spotted a mistake? Email community@opencouncil.network.