Agenda and minutes
PDF 62 KBVenue: Committee Room 1
Contact: Democratic Services
Media
| No. | Item |
|---|---|
|
Election of Chair Purpose: Election of the Chair for Audit and Governance Committee for the remainder of the Civic Year 2023/24.
Recommendation: That the Committee elects a Chair for the remainder of the Civic Year 2023/24. Minutes: The Director of Governance opened the meeting, welcoming Members and Officers to the Audit and Governance Committee meeting. The Director of Governance referred Members to the first item on the Agenda, Election of Chair, and asked the Committee for nominations to the position of Chair of the Audit and Governance Committee for the remainder of the municipal year 2023/24. Councillor Elizabeth Poskitt proposed that Councillor Carl Rylett be appointed to the position of Chair of the Audit and Governance Committee for the remainder of the municipal year 2023/24. This was seconded by Councillor Ruth Smith, was put to a vote, and was carried. The Committee Resolved to:
|
|
|
Apologies for Absence To receive any apologies for absence. Minutes: Apologies for absence were received from Councillors Colin Dingwall and Ed James. Councillor Liam Walker substituted for Councillor Colin Dingwall.
|
|
|
Minutes of Previous Meeting To approve the minutes of the meeting held on 28 September 2023. Minutes: The Chair asked members for a proposer and seconder to approve the minutes of the previous Audit and Governance Committees, held on 28 September 2023. Councillor Ruth Smith proposed to approve the minutes of the Audit and Governance Committee held on 28 September 2023, this was seconded by Councillor Jane Doughty, was put to a vote and was carried. The minutes were signed by the Chair as a correct record. The Committee Resolved to: 1. Approve the minutes of the Audit and Governance Committee held on 28 September 2023.
|
|
|
Declarations of Interest To receive any declarations from Members of the Committee on any items to be considered at the meeting. Minutes: There were no declarations of interest received. |
|
|
Participation of the Public To receive any submissions from members of the public, in accordance with the Council’s Rules of Procedure, anyone who lives in the district or who pays council tax or business rates to the Council is eligible to read a statement or express an opinion at this meeting. You can register to speak by sending your written submission of no more than 750 words to [email protected], by no later than 10.00am on the working day before the meeting. Minutes: There were no participation of the public. |
|
|
Internal Audit Progress Report Purpose: To present a summary of the audit work concluded since the last meeting of this Committee.
Recommendation: That the Audit and Governance Committee resolves to note the report
Invited: Lucy Cater, Assistant Director SWAP Additional documents:
Minutes: The Assistant Director of the South West Audit Partnership (SWAP) introduced the Internal Audit Progress Report. There were no final reports on the agenda but the following audits had very recently been concluded by the team: · Bank reconciliation · Transparency agenda · Taxi licensing audit
Councillor Jane Doughty proposed that the Committee note the Internal Audit Progress Report, This was seconded by Councillor Ruth Smith, was put to the vote and was carried.
The Committee Resolved to: 1. Note the report.
|
|
|
External Audit Progress Report and Audit Plan for year ending 31st March 2023 Purpose: To provide Members with the Progress Report and the draft Audit Plan for year ending 31st March 2023.
Recommendation: That the Audit and Governance Committee resolves to note the contents of the report and appendices.
Invited: Madhu Richards, Director of Finance; Peter Barber, Key Audit Partner, Grant Thornton.
Additional documents:
Minutes: The Director of Finance introduced Peter Barber from Grant Thornton.
Mr Barber explained that there were two elements to the item; a progress report and the audit plan setting out the external audit approach. The external auditor’s role was two-fold in providing an opinion on the Council’s financial statements and a value for money conclusion. The report was for 2022/23, Grant Thornton’s final year as the Council’s auditors.
The Committee noted the sector wide delay in audits and asked for a brief overview of the government’s proposals to address this. For 2022/23 the deadline for producing draft accounts was the end of May and the deadline for giving an audit opinion on the financial statements was the end of September. This deadline had only been met for 5 of 497 councils and other public bodies. There was still a clear view that accounts needed to be signed off in accordance with the auditing standards, which was frustrating. There were a number of new entrants into the external audit market but it was difficult because some councils had multiple years’ audits outstanding. The government had been considering introducing a backstop mechanism to enable more timely reporting of accounts but a decision was needed very soon and the minister had recently changed.
Councillor Elizabeth Poskitt proposed that the Committee notes the contents of the report and appendices. This was seconded by Councillor Michele Mead, was put to the vote and carried.
The Committee Resolved to: 1. Notes the contents of the report and appendices. |
|
|
Purpose: To provide Members with an update on the External Auditor Findings and Recommendations from the 2021/22 financial and value for money audits carried out by Grant Thornton.
Recommendation: That Audit and Governance Committee resolves to note the contents of the report.
Invited: Madhu Richards, Director of Finance. Additional documents:
Minutes: The Director of Finance introduced the Monitoring report on Management’s responses to the External Auditors Findings and Implementation of External Audit Recommendations.
The Chair, Councillor Carl Rylett proposed that the Committee note the contents of the reports. This was seconded by Councillor Joy Aitman, was put to the vote and was carried.
The Committee Resolved to: 1. Note the report.
|
|
|
Treasury Management Mid-Term Report Purpose: To provide Members with an update on Treasury Management activity, the performance of internal and external funds and prudential indicators for the period 1st April 2023 – 30th Sept 2023.
Recommendation: That the Committee notes the Treasury Management Mid-Term Report.
Invited: Madhu Richards, Director of Finance Georgina Dyer, Chief Accountant Minutes: The Chief Accountant introduced the Treasury Management Mid-Term Report, which had recently been considered by the Council’s Overview and Scrutiny Committee.
The Committee requested that future treasury management report are presented to the Audit and Governance Committee and not the Overview and Scrutiny Committee.
The Chair, Councillor Carl Rylett proposed that the Committee note the contents of the report. This was seconded by Councillor Jane Doughty, was put to the vote and was carried.
The Committee questioned the Council’s approach to ethical investments. The Chief Accountant explained that there was a small part of the pooled fund portfolio that would include investments in fossil fuel producers for example because the Council had multi-asset funds which reflected the market as a whole. Ethical investments tended to have lower returns than other investments. The Chief Accountant committed to seeking further information from the Council’s treasury advisors and bringing that to the next Audit and Governance Committee meeting.
The Committee Resolved to:
|
|
|
CIPFA's Position Statement on Audit Committees Purpose: To present to the Audit and Governance Committee The Chartered Institute of Public Finance and Accountancy (“CIPFA’s”) Updated Audit Committee Guidance along with the self-assessment and evaluation toolkit to enable Committee Members to identify any training needs to ensure they meet the principles as set out in the CIPFA guidance
Recommendation: That the Audit and Governance Committee discusses the attached documents and Members undertake a self-assessment, in readiness for the next meeting of the Committee, to identify any training needs to ensure that all skills identified in the CIPFA guidance can be met.
Invited: Andrea McCaskie, Monitoring Officer Lucy Cater, Assistant Director SWAP Additional documents:
Minutes: The Assistant Director SWAP, introduced the CIPFA (Chartered Institute of Public Finance and Accountancy) position statement on the Audit and Governance Committee. Officers proposed undertaking a self-assessment exercise and considering the appointment of Independent Persons and reducing the size of the Committee. A survey would be distributed to Members in the following weeks.
Councillor Michele Mead proposed that the Committee delegates to the Director of Governance to undertake a self-assessment questionnaire and to report back to the Chair and Vice-Chair, in readiness for the next meeting of the Committee. This was seconded by Councillor Rachel Crouch, was put to the vote and was carried.
The Committee Resolved to:
|
|
|
Audit and Governance Committee Work Programme 2023/24 Purpose: Committee to note the Work Programme 2023/24.
Recommendation: Committee to note and update where necessary the Work Programme 2023/24. Minutes: The Chair asked the Committee if there were any comments on the Work Programme.
Councillor Michelle Mead proposed that the Committee notes the Work Programme. This was seconded by Councillor Elizabeth Poskitt, was put to the vote and was carried.
The Committee Resolved to: 1. Note the Committee Work Programme. |