Agenda item

Minutes:

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The Shared Audit Manager presented the report and reminded Members that the Audit Committee was established in 2006, with Terms of Reference drawn up in line with the guidance from the Chartered Institute of Public Finance and Accountancy (CIPFA).  It was explained that the Terms of Reference needed to be reviewed every three years and presented to Cabinet and Council for approval.  It was noted that the last review was carried out in 2016.

 

The key issues were outlined as set out in the report.

 

The Committee’s attention was drawn to the two changes set out in the report at sections 2.2 and 2.3.

 

The Shared Audit Manager responded to questions in relation to:

 

·         Training for the Audit Committee.

·         Appointment of Independent Person.  It was noted that a monetary allowance would be payable if an Independent Person was appointed to the Audit Committee.

 

Councillors C Joyce, J Moriarty and C Morley addressed the Committee under Standing Order 34.

 

The Committee suggested that the following items be included in the Audit Committee’s Terms of Reference:

 

           Training for the Audit Committee on new items being presented to the Committee for consideration/determination.

           Consideration of appointing an Independent Person to be reviewed on an annual basis.

           Terms of Reference to be reviewed on a 4 yearly basis to coincide with the appointment of new Members one year after the local elections take place, to ensure any new committee and its Members are fully aware of their role to be able to effectively evaluate the current Terms of Reference.

           Budget monitoring report be available to enable Members to monitor the Council’s performance against budget.  To be presented to the Audit Committee on a quarterly basis.

·                     Risk Management/Financial Information - Members to receive a summary report on the list of reconciliations undertaken, together with the up to date position. 

·                     Insurance – Members to receive a report on the statistics, for example, the number of claims received, trends in claims set out in table format.

 

The Shared Audit Manager undertook to discuss the risk management/financial information and insurance request with the Assistant Director, Resources.

 

At the invitation of the Chair, the Leader, Councillor Long addressed the Committee.  The Leader commented that budget monitoring was in the remit of the Audit Committee, but during the last 12 months it had not been possible to publish a budget monitoring report on a monthly basis.

 

RESOLVED:  The Audit Committee rejected the draft Terms of Reference and requested that the following amendments be made and a revised draft be presented to a future meeting:

 

·         Training for the Audit Committee on new items being presented to the Committee for consideration/determination.

·         Consideration of appointing an Independent Person to be reviewed on an annual basis.

·         Terms of Reference to be reviewed on a 4 yearly basis to coincide with the appointment of new Members one year after the local elections take place, to ensure any new committee and its Members are fully aware of their role to be able to effectively evaluate the current Terms of Reference.

·         Budget monitoring report be available to enable Members to monitor the Council’s performance against budget. To be presented to the Audit Committee on a quarterly basis.

·         Risk Management/Financial Information - Members to receive a summary report on the list of reconciliations undertaken, together with the up to date position.

·         Insurance – Members to receive a report on the statistics, for example, the number of claims received, trends in claims set out in table format.

 

 

 

 

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