Minutes for Accounts, Audit and Risk Committee meeting, Dec 13 2010, 6.30PM official page

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

The Chairman to report on any requests to submit petitions or to address the meeting.

The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.

 

To confirm as a correct record the Minutes of the meeting of the Committee held on 22 October 2010.

Report of Head of Finance

 

Summary

 

The purpose of this report is to inform the committee of the Annual Audit Letter as prepared by the Audit Commission. This report summarises findings from the 2009/10 audit of the financial statements and an assessment of the arrangements to achieve value for money in the Council’s use of resources.

 

Recommendations

 

The Accounts, Audit and Risk Committee is recommended to:

 

(1)               Note the contents of the Annual Audit Letter.

 

The Benefits Investigation Manager will give a presentation updating Members on the work of the Benefits Investigation Team.

Report of Chief Internal Auditor

 

Summary

 

This report provides the Committee with an update of the work of Internal Audit since the last meeting.

 

Recommendations

 

The Accounts, Audit and Risk Committee is recommended to:

 

(1)               Consider and approve this report.

 

Report of Head of Finance

 

Summary

 

The purpose of this report is to provide a brief update to Councillors on the Councils progress towards IFRS and completing the 2010/11 Statement of Accounts under these new standards.

 

Recommendations

 

The Accounts, Audit and Risk Committee is recommended to:

 

(1)               Note the contents of this report and the officers’ proposed actions to deal with the implementation of IFRS.

 

Report of Corporate Strategy and Performance Manager and Risk Management & Insurance Officer

 

Summary

 

To endorse the underlying principles of risk and opportunity management, to update the Committee on the management of Strategic, Corporate and Partnership Risks (Core Risks) and endorse the proposed reporting timetable for 2011/2012.

 

Recommendations

 

The Accounts, Audit and Risk Committee is recommended to endorse:

 

(1)               The underlying principles for risk management.

 

(2)               The Strategic, Corporate and Partnership (Core) Risk Register

 

(3)               The proposed reporting timetable to the Executive and the Accounts Audit & Risk Committee 2011/2012.

 

Report of Corporate Strategy and Performance Manager & Risk Management and Insurance Officer

 

Summary

 

To present the Risk Management Strategy for 2011/12 for consideration and comment by the Accounts, Audit & Risk Committee in advance of its consideration by the Council’s Executive in 2011.

 

Recommendations

 

The Accounts Audit & Risk Committee is recommended to:

 

(1)               Endorse the Risk Management Strategy 2011/12 (Appendix A).

(2)               Note that the views of the Accounts, Audit & Risk Committee will be reported to the Executive when they consider this item.

 

 

1.      Chartered Institute of Public Finance and Accountancy (CIPFA) Training - Effective Audit Committee

 

The Chairman will brief the committee on his attendance at the CIPFA Effective Audit Committee training course on 17 November 2010. 

 

 

2.      The Head of Finance will update Members on the Work Programme.