Decision Maker: Audit Committee
Decision status: For Determination
Is Key decision?: No
Is subject to call in?: No
The updated Audit Committee Risk Register was presented by the Finance Lead Specialist (Section 151 Officer). The Risk Register had last been reviewed by the Committee on 5 December 2018 and the recommendations from that meeting had been included within the update.
The Finance Lead Specialist (Section 151 Officer) highlighted the risks which had been considered at the meeting in December 2018 and made particular reference to Risk AC 1 (the challenge from the committee is ineffective due to inexperience) she explained that training had been provided to the three new members of the Audit Committee and therefore there was not an increase in risk. Risk AC 2 (the ability of the Council to carry out its statutory requirements effectively due to limited resources as a result of funding of local government) she explained that this risk was below the line of appetite and had been reduced to reflect the Council’s robust financial planning process. However, the risk remained, as the current financial situation remained uncertain. Risk AC 3 (Members identified the risks regarding the statutory timetable for final accounts reporting from the 2017/18 accounts being a month earlier) she explained that Officers had prepared the 2018/19 accounts by the end of May 2019 and therefore it was proposed that the risk was archived. The Finance Lead Specialist (Section 151 Officer) highlighted the risks which had, as agreed by the previous Audit Committee, been archived and informed Members that none of the archived risks needed to be reactivated.
RESOLVED – That the updated Audit Committee Risk Register be noted.
Report author: Helen Smith
Publication date: 15/08/2019
Date of decision: 25/07/2019
Decided at meeting: 25/07/2019 - Audit Committee