| Item | Description | Resolution |
|---|---|---|
| PART 1 - PUBLIC | ||
| MATTERS FOR RECOMMENDATION TO THE COUNCIL | ||
| CB 11/052 |
Risk Management Strategy |
The Director of Finance presented a revised Risk Management Strategy considered by the Audit Committee on 20 June 2011 which had commended the Strategy for adoption subject to an amendment to the wording of its introduction to "ensure that risks are reduced to an acceptable level or, where possible, eliminated ...". The Cabinet was advised that on reflection the word "reasonable" was considered more appropriate than "possible". RECOMMENDED: That the revised Risk Management Strategy set out at the Annex to the report to the Audit Committee be adopted by the Council subject to emphasis being placed on a sound risk management framework and its correct application, and the amendment of the second sentence of the introduction to the Strategy to read: "This is intended to ensure that risks are reduced to an acceptable level or, where reasonable, eliminated ...". *Referred to Council |