Agenda and minutes

There were no declarations made.

RESOLVED:

That the minutes of the meeting held on 9 February 2022 be approved as a correct record.

Councillors considered a report with regards to the appointment of an Independent Member to the Committee following a recruitment process.

RESOLVED:

That Mrs Hannah Burbidge be appointed as an Independent Member of the Audit and Regulatory Committee.

Councillors were presented with an overview of the External Audit Plan 2021/22.  Members discussed risks relating to infrastructure assets, resource challenges to achieve audit deadlines/audit fees and quality assurance processes implemented to avoid human error.

RESOLVED:

That the Audit Plan be noted.

The purpose of the report was to enable the Committee to seek assurance as to the adequacy of the Council’s Risk Management arrangements in accordance with accepted good practice.  Members discussed risks relating to recruitment, delivery of services, the selection of key performance indicators with partner organisations and resident/customer surveys.

RESOLVED:

That the Council’s current risk position and the mitigation / fruition plans summarised within Appendix A (strategic risks), Appendix B (operational risks), Appendix C (project risks) and Appendix D (opportunity risks) be noted.

The purpose of the report is to allow the robust scrutiny of the Council’s Treasury Management performance in 2021/22 in compliance with the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Treasury Management and generally accepted good practice.  Members discussed the impact of increasing inflation and interest rates, low growth and the impact on the pension scheme.

RESOLVED:

That the Annual Treasury Management Report 2021/22 be recommended to Council for approval.

The purpose of the report is to allow the robust scrutiny of the Council’s Treasury Management performance in 2022/23 in compliance with the Chartered Institute of Public Finance and Accountancy (CIPFA) Code of Practice on Treasury Management and generally accepted good practice.

RESOLVED:

That the current Treasury Management position as at 31^st May 2022 be noted.

The Accounts and Audit Regulations 2015 require the Council to “undertake an effective internal audit to evaluate the effectiveness of its risk management, control and governance processes, taking into account public sector internal auditing standards or guidance”. In accordance with the Public Sector Internal Audit Standards, the Audit Manager must report periodically to the Audit Committee on the internal audit activity’s performance relative to its plan.  The report provided a summary of ten audits that had been completed two of which had received limited assurance ratings (building control and housing repairs).

RESOLVED:

That the progress information contained within the report be noted.

The Accounts and Audit Regulations 2015 requires the Council to “undertake an effective internal audit to evaluate the effectiveness of its risk management, control and governance processes, taking into account public sector internal auditing standards or guidance”. The Audit Charter provided a framework for the operation of the Internal Audit service and is required by the Public Sector Internal Audit Standards (PSIAS) which require the Charter to be approved by the ‘Board’, which for the Council’s purpose is the Audit & Regulatory Committee.

RESOLVED:

That the Council’s Internal Audit Charter be approved.

The Accounts and Audit Regulations 2015 require the Council to “undertake an effective internal audit to evaluate the effectiveness of its risk management, control and governance processes, taking into account public sector internal auditing standards or guidance”. In accordance with Public Sector Internal Audit Standards, the Audit Manager should establish a risk based audit plan to determine the priorities of the internal audit activity, consistent with the Council’s goals. The audit plan must be based on a documented risk assessment undertaken at least annually.  Members discussed the staff resource for the £150 Council Tax Rebate.

RESOLVED:

That the Council’s annual Internal Audit Plan for 2022/23 be approved.

It was reported that further work on the Financial Management Code had not taken place but that it was broadly on track with few areas for improvement.  This would be progressed as part of the medium-term financial plan process.

RESOLVED:

That the Work Programme be noted.