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.
I have issued an unqualified opinion on the 2010-11 financial statements of the Trust, although in doing so I have brought several issues to the attention of officers and the Audit Committee. Whilst I recognise that there has been a substantial improvement in the final accounts preparation process this year, further improvements to support working papers can still be made.
I have also concluded that:
- the Trust’s accounts were properly prepared and materially accurate; and
- the Trust has an adequate internal control environment, to reduce the risks of material misstatements to the financial statements, however there are some aspects that require further strengthening.
The Trust achieved financial balance at the end of 2010-11, as a result of good financial management and budgetary control.