Decision details

Audit Committee Risk Register

Decision Maker: Audit Committee

Decision status: For Determination

Is Key decision?: No

Is subject to call in?: No

Purpose:

This report is presented to Audit Committee to facilitate the ongoing review of the Audit Committee Risk Register.

Decisions:

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 25 July 2019 and the recommendations from that meeting had been included within the update.

 

The Finance Lead Specialist (Section 151 Officer) was proposing that Risk AC 1 (the challenge from the Committee is limited due to inexperience) be reduced back to Very Low following completion of induction training by all Members of the Committee.  She explained that the likelihood of Risk AC 2 (the ability of the Council to carry out its statutory requirements effectively due to limited resources as a result of the level of funding of local government) had been reduced to reflect the Council’s robust financial planning process, including the identification and delivery of savings.  However, risks remained, as the current financial situation was still uncertain.  Risk AC 3 (regarding the statutory timetable for final accounts reporting from the 2017/18 accounts being a month earlier) had been archived following the Council having met the deadlines for two financial years.

 

In response to a suggestion, the Finance Lead Specialist undertook to allocate unique numbers to each risk in order to avoid confusion.

 

RESOLVED – That the updated Audit Committee Risk Register be noted.

Report author: Helen Smith

Publication date: 18/12/2019

Date of decision: 05/12/2019

Decided at meeting: 05/12/2019 - Audit Committee

Accompanying Documents: