UNCERTAINTY continues to surround when the council's accounts will be signed off.

The council failed to sign off its 2017-18 statement of accounts before the July 31 deadline due to a valid objection questioning whether its investment into Redwood Bank was legal.

Redwood Bank – which the council paid £30 million to buy a 33 per cent share in – officially launched in the town in October last year.

Grant Thornton is the authority's independent external auditor, appointed by the Public Sector Audit Appointments under the Local Audit and Accountability Act 2014.

A council spokesman said: "This matter remains with the external auditors, who are committed to dealing with the objection to the accounts in line with the required process.

"There is currently no date identified for the accounts to be presented to the council's audit and corporate governance committee.

"We will continue to monitor progress and provide an update at the earliest opportunity once the matter is concluded."