Agenda item

The Service Director - Finance and Improvement Services provided the Governance and Audit Committee with an overview of its role in respect of Risk Management, as set out in the Chartered Institute of Public Finance and Accountancy (CIPFA) publication ‘Audit Committees – Practical Guidance for Local Authorities and Police 2018Edition’ (from hereon noted as the CIPFA publication), and in line with the Terms of Reference for the Committee.

Members were referred to Section 4 of the report, which detailed the Committee’s statement of purpose and the relevant extracts from the Committee’s Terms of Reference.

The Service Director went on to draw Members attention to Section 5 of the report, which set out the role of audit committees in relation to risk management as per the CIPFA publication and also detailed the arrangements in place within the Council to meet these requirements.

Members were then directed to the latest Strategic Risk Register for the Committee’s consideration of the arrangements in place, as set out at Appendix 1 of the report. The Service Director informed the Committee that Strategic Risk Register updates are included in the Council’s quarterly Performance Reports presented to Cabinet and thereafter scrutinised by the Overview and Scrutiny Committee.

The Chair thanked the Service Director for the report and recognised the important role of the Governance and Audit Committee in considering the adequacy of arrangements in place and also understanding the strategic risks facing the Council and the actions in place to mitigate them, as far as possible.

A Member supported the comments of the Chair and spoke of the importance of having the Terms of Reference of the Committee and its duties and obligations in one place, and emphasised the important role of the Governance and Audit Committee in holding officers to account. In terms of accountability, the Service Director noted that a draft Governance and Audit Committee Annual Report will be presented to the March 2023 meeting that will set out the Committee’s work during the year and, subject to approval, will be presented to full Council. The Service Director added that the publication of an annual report supports the Governance and Audit Committee being accountable for the work it undertakes on an annual basis.

Lay Member, Mr M Jehu sought assurance that should any significant changes occur through the year in respect of the Council’s strategic risks, officers would endeavour to report them to the Governance and Audit Committee. The Service Director provided assurance to the Lay Member and explained that the Strategic Risk Register is in the public domain and is scrutinised by the Council’s Overview and Scrutiny Committee. The Service Director added that where key changes / updates are incorporated into the Strategic Risk Register, these will be reported to the Governance and Audit Committee.

The Governance and Audit Committee RESOLVED:

1.    To consider the arrangements in place for Governance and Audit Committee to discharge its role in respect of Risk Management; and

2.    To determine whether further information or action is required to provide the Committee with the necessary assurance for this area, including updates on specific strategic risks.