valuation of land and buildings
Councils are reviewing and approving external audit plans for 2025-26, identifying risks related to financial statement valuations and management controls.
Kingston Council's Audit, Governance and Standards Committee approved its external audit plan for the 2025-26 financial year in September 2026. This plan, presented by KPMG, identified key risks including the valuation of post-retirement benefit obligations and the potential for management override of controls. Hammersmith and Fulham Council's Audit Committee also reviewed its 2025/26 external audit plan in March 2026, noting management override of controls as a significant risk.
The valuation of land and buildings, which is the process of determining the financial worth of council-owned properties, forms a part of these financial statements. Other councils, including Kensington and Chelsea in July 2026 and Southwark in July 2026, have also reviewed their external audit plans for the 2025/26 financial year. There are no upcoming meetings listed with this topic on their agenda.
Key facts
- Kingston Council approved its 2025-26 external audit plan in September 2026. Source
- The Kingston plan identified valuation of post-retirement benefit obligations as a key risk. Source
- Management override of controls was identified as a key risk in Kingston's 2025-26 audit plan. Source
- Hammersmith and Fulham Council reviewed its 2025/26 external audit plan in March 2026. Source
- Hammersmith and Fulham Council set a materiality threshold of £18.4 million for its 2025/26 audit. Source
About this summary
This summary was written automatically from our published stories and the council meeting records they draw on, with background from Wikipedia. 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.