Issue - meetings

RESOLVED:   1)          That the Shareholder Terms of Reference be agreed to be reviewed annually.

2)          That clarification be given on the role of Audit Committee and Corporate Performance Panel relating to the Shareholder Committee and the Council’s Companies and their finances.

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The Committee’s Terms of Reference were noted.  It was noted that 5.3 included that the Audit Committee was to receive assurances on the sound system of internal control and Risk Management process for the Committee.

Under standing order 34 Councillor Ryves asked if the Internal Auditors would have access to the Company’s books as he felt that without the ability to do so he considered there would be vulnerability that the Audit Committee wouldn’t be able to express confidence in all processes.  The Monitoring Officer explained that she would look at what was available under the Shareholder Agreement, which if it said it would be available for scrutiny.  It was noted that it would be subject to confidentiality rules. 

The S151 Officer explained the Internal Audit had carried out a position statement on both companies in line with the governance arrangements the Council had over the companies.  Ensorrs were the external auditors of the Companies.  The Audit Committee discussed whether it had responsibility to carry out the process, which was being investigated.  The arrangements would also need to be reported in the annual governance statement.

The Monitoring officer reminded members of the role of the Corporate Performance Panel regarding scrutiny of the Shareholder Committee as a Sub Committee of Cabinet.  Going forward it would be made clear what the functions of Audit and Scrutiny were in the process for the Committee and the Companies.

RESOLVED:   1)          That the Shareholder Terms of Reference be agreed to be reviewed annually.

2)          That clarification be given on the role of Audit Committee and Corporate Performance Panel relating to the Shareholder Committee and the Council’s Companies and their finances.