The Council's Statement of Accounts is prepared in accordance with the Code of Practice on local authority accounting in the United Kingdom.
Statement of accounts 2024-25
The Council’s 2024-25 Statement of Accounts [https://www.coventry.gov.uk/downloads/file/46490/statement-of-accounts-2024-25-with-auditor-s-report] was approved by the Audit and Procurement Committee on 2 February 2026. The Statement of Accounts includes the report and opinion of the Council’s external auditors, Grant Thornton UK LLP.
The external auditors have now issued their Independent Auditor’s Report on the financial statements. However, the audit has not yet been formally concluded, as the audit certificate cannot be issued until the Whole of Government Accounts (WGA) process for 2024-25 has been completed. Once this work has been finalised and the audit certificate issued, we will publish the Notice of Conclusion of the Audit.
Public Interest Entity (PIE) – Audit Fee Cap Exemption
Up to 31 March 2025 Coventry City Council was classified as a Public Interest Entity (PIE) due to historic bonds that are freely tradable on the Stock Exchange.
As a result of the local audit backstop arrangements, audit fees for the relevant years were significantly reduced. In these exceptional circumstances, this led to non-audit fees exceeding the ethical fee cap in 2024/25.
The Financial Reporting Council granted Grant Thornton UK LLP an exemption from the fee cap in recognition of the exceptional circumstances surrounding the Government’s backstop arrangements. Having regard to this exemption and the nature of the non-audit services provided, the Audit and Procurement Committee has been fully briefed and is satisfied that Grant Thornton UK LLP has remained independent and objective as the Council’s external auditor.
Previous years
You can also download the Statement of Accounts for previous years [https://www.coventry.gov.uk/downloads/download/214/statement-of-accounts].