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 2011-12 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 the improvement in the financial accounts preparation process has continued, more consistency in working papers and greater use of analytical review would improve the process further.
I have also concluded that:
- the Trust’s accounts were properly prepared and materially accurate;
- the Trust had an effective internal control environment to reduce the risks of material misstatements to the financial statements; and
- the Trust’s significant financial and accounting systems were appropriately controlled and operating as intended.
The Trust achieved financial balance at the end of 2011-12, after reporting savings of £2.2 million.