This document has been prepared for the internal use of Velindre NHS Trust as part of work performed in accordance with statutory functions, the Code of Audit Practice and the Statement of Responsibilities issued by the Auditor General for Wales
My work on the audit of accounts has led me to give an unqualified opinion on the financial statements of the Trust. The Trust achieved a retained surplus of £49,000 at the end of 2009-10.
I have also concluded that:
- whilst the Trust’s accounts were materially accurate, the accounts preparation process could be further improved; and
- the Trust has adequate accounting and internal control systems in place however there are some areas that require further strengthening.
In giving an unqualified opinion, I have drawn the Trust’s attention to a number of issues. These relate to the year-end closedown process and the financial statements preparation process, in particular, the need to improve both the quality of the working papers to support the financial statements and the quality review process.