| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| AU 13/043 |
Declarations of interest. |
There were no declarations of interest made in accordance with the Code of Conduct. |
| AU 13/044 |
Minutes |
RESOLVED: That the Minutes of the meeting of the Audit Committee held on 17 June 2013 be approved as a correct record and signed by the Chairman. |
| MATTERS FOR RECOMMENDATION TO THE CABINET | ||
| AU 13/045 |
Treasury Management Mid-Year Review 2013/14 |
The report of the Director of Finance and Transformation provided an update on treasury management activity undertaken during the period April to August 2013/14 and reviewed the risk parameters and management arrangements contained within the current Treasury Management Strategy Statement and Annual Investment Strategy. Members were invited to endorse the action taken by officers in respect of treasury management activity to date and to retain the current risk parameters and management arrangements. RECOMMENDED: That the following be commended to the Council: (1) the action taken by officers in respect of treasury management activity for the period April to August 2013 be endorsed; and (2) the parameters intended to limit the Council's exposure to investment risk be retained together with the management arrangements set out in the 2013/14 Investment Strategies. |
| DECISIONS TAKEN UNDER DELEGATED POWERS IN ACCORDANCE WITH PARAGRAPH 3 (OR 2), PART 3 OF THE CONSTITUTION | ||
| AU 13/046 |
Internal Audit Self Assessment Against the Public Sector Internal Audit Standards |
The report of the Chief Internal Auditor informed the Committee of the results of the self assessment against the Public Sector Internal Audit Standards (PSIAS) which became effective from 1 April 2013. The PSIAS were comprised of two main areas, namely Attribute Standards and Performance Standards and a summary was presented of the assessment findings under each category. Members were advised of the next steps for compliance with the requirements of the PSIAS, including preparation of a revised Internal Audit Charter. It was noted that the Internal Audit team would work towards completion of the actions over the remainder of the financial year. RESOLVED: That the Action Plan set out at paragraph 1.14.1 of the report be endorsed. |
| AU 13/047 |
Internal Audit Charter |
The report of the Chief Internal Auditor gave details of proposed updates to the Internal Audit Charter in order to ensure that it reflected the requirements of the new Public Sector Internal Audit Standards. RESOLVED: That the updated Internal Audit Charter set out at Annex 1 to the report be approved. |
| MATTERS SUBMITTED FOR INFORMATION | ||
| AU 13/048 |
Half Year Internal Audit Update Report 2013-14 |
The Chief Internal Auditor's report summarised the work conducted by Internal Audit during the current financial year to 30 September 2013. Details were given of finalised audits from 2012/13 and work undertaken towards the 2013/14 plan. An explanation was provided of two reviews given a "red" audit opinion and it was noted that work was on target for completion of the Audit Plan for the year. RESOLVED: That the report be received and noted. |
| AU 13/049 |
External Auditors Report on the Outcome of the Audit of the Statement of Accounts 2012/13 |
The report of the Director of Finance and Transformation gave details of the outcome of the audit of the Council's Accounts for the year ended 31 March 2013. It was noted that under the Council's constitutional arrangements the External Auditor's report had been presented and approved by the General Purposes Committee on 2 September 2013 and that there were no material issues that needed to be brought to the attention of the Committee following the audit. Copies of Grant Thornton's reports on the outcome of the audit of the Statement of Accounts and the Council's arrangements for securing financial resilience were annexed to the report. Mr Greenlee confirmed that a number of outstanding actions had been completed to enable the accounts to be signed off so that the External Auditor could issue an opinion by the 30 September deadline. RESOLVED: That the report be received and noted. |
| AU 13/050 |
National Fraud Initiative (NFI) Update |
The Chief Internal Auditor provided an update on the progress made on the referrals arising from the National Fraud Initiative 2012/13. Members were advised that the data matching exercise, formerly co-ordinated by the Audit Commission, would continue under the remit of the Cabinet Office. RESOLVED: That the report be received and noted. |
| AU 13/051 |
Review of Operational Risk Registers - June 2013 |
The report of the Director of Finance and Transformation updated the Committee on the results of a review of the Council's Operational Risk Registers carried out by Services in June 2013. It was noted that the levels of risk remained relatively static, those risks scored as high being set out in the Annex to the report. RESOLVED: That the report be received and noted. |
| MATTERS FOR CONSIDERATION IN PRIVATE | ||
| AU 13/052 |
Exclusion of Press and Public |
The Chairman moved, it was seconded and RESOLVED: That as public discussion would disclose exempt information, the following matters be considered in private. |
| PART 2 - PRIVATE | ||
| MATTERS SUBMITTED FOR INFORMATION | ||
| AU 13/053 |
Insurance Claims History: April - September 2013 (Reason: LGA 1972 Sch 12A Para 3 - Financial or business affairs of any particular person) |
The Director of Finance and Transformation reported on the nature and volume of liability and property damage insurance claims submitted during the period April - September 2013. RESOLVED: That the report be received and noted. |
| AU 13/054 |
Landsbanki Deposit (Icelandic Bank) (Reason: LGA 1972 Sch 12A Para 3 - Financial or business affairs of any particular person) |
Further to Decision No D130099CAB, the report of the Director of Finance and Transformation provided an update on the sale of the Council's claim against Landsbanki. RESOLVED: That the report be received and noted. |