Minutes for Audit and Governance Committee meeting, Dec 16 2009, 3.00PM official page

Apologies for absence were received from Councillors Brodie-Browne (Substitute Member), P. Dowd, C. Mainey, Moncur, Parry, Robertson and Tonkiss.

Members and Officers are requested to give notice of any personal or prejudicial interest and the nature of that interest, relating to any item on the agenda in accordance with the relevant Code of Conduct.

There were no declarations of interest.

Minutes of the meeting held on 30 September 2009

RESOLVED:

That the Minutes of the meeting of the Committee held on 30 September 2009 be confirmed as a correct record.

Report of the Finance and Information Services Director

Peter Chambers, Engagement Partner from PricewaterhouseCoopers, the Council's External Auditors, presented the Council's Annual Audit letter which provided an overall summary of the results of the audit work undertaken during 2008/09, the unqualified conclusion on the adequacy of the Council's arrangements for its Use of Resources on 30 September 2009 and the review of the Council's Annual Governance Statement.

RESOLVED:

That the Annual Audit Letter for 2008/09 be noted.

Report of the External Auditors, PricewaterhouseCoopers

Peter Chambers, Engagement Partner from PricewaterhouseCoopers, the Council's External Auditors, presented a report setting out the audit and inspection work to be undertaken during the 2009/10 financial year, which included an analysis of key risks, the proposed approach to be taken by the external auditors, the reporting and audit timetable and details of the audit fee.

RESOLVED:

That the External Audit Plan for 2009/10 be noted.

Report of the Finance and Information Services Director

The Committee considered the report of the Finance and Information Services Director which provided details of the Treasury Management activities undertaken in the current financial year up until 30 November 2009 in accordance with the Council's Treasury Management Policy and Strategy 2009/10.

The report indicated that a Treasury Management training course facilitated by the Council's Treasury Management Consultants Sector had been delivered to Members of the Committee and the Corporate Services Cabinet Member and Spokespersons on 18 November 2009.

RESOLVED:   That

(1)       the report be noted; and

(2)       the next Treasury Management training course to be provided for             Members should include Substitute Members of the Committee.

Report of the Finance and Information Services Director

Further to Minute No. 38 of the meeting held on 25 March 2009, the Committee considered the report of the Finance and Information Services Director which provided an update on the progress made in relation to the introduction of the International Financial Reporting Standards (IFRS) from 2010/11.

RESOLVED:  That

(1)       the progress made to date on the implementation of International             Financial Reporting Standards be noted;

(2)       it be noted that there are significant implications for the Council as identified in the PricewaterhouseCoopers Preliminary Study and that additional resources may be required to comply with IFRS;

(3)       the proposed Implementation Action Plan to ensure achievement of the new standards be noted; and

(4)       further progress reports be presented to the Committee.

To consider passing the following resolution:

That, under Section 100A(4) of the Local Government Act, 1972, the press and public be excluded from the meeting for the following item(s) of business on the grounds that it involves the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Act.  The Public Interest Test has been applied and favours exclusion of the information from the Press and Public.

RESOLVED:

That, under Section 100A(4) of the Local Government Act 1972, the press and public be excluded from the meeting for the following item of business on the grounds that it would involve the likely disclosure of exempt information as defined in Paragraph 3 of Part 1 of Schedule 12A to the Act.  The Public Interest Test has been applied and favoured exclusion of the information from the press and public.

Report of the Finance and Information Services Director

The Committee considered the report of the Finance and Information Services Director which provided an update of the Corporate Risk Register.

RESOLVED:

That the updated Corporate Risk Register be approved.

Report of the Finance and Information Services Director

The Committee considered the report of the Finance and Information Services Director which provided a summary of internal audit work undertaken during the period September to November 2009.  The Committee was required to be appraised of the Internal Audit and Benefit Fraud Investigation Team work as part of its review of the internal control environment and formulation and overall governance arrangements.

RESULTS:            That

(1)       the report be noted; and

(2)       a report on the performance trend of Arvato's Benefit Fraud Investigation Team be submitted to the next meeting.