Decision details
Risk Management Update
Decision Maker: Audit Committee
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Decisions:
The report of the Management Team provided an update on the risk management process and the Strategic Risk Register (SRR).
Members were advised that the Covid-19 outbreak and its ongoing impact across the Borough Council’s service areas, businesses and the wider community had been added to the SRR. A number of risks had been re-categorised as RED and included:
- Financial position/budget deficit
- Brexit impact and economic uncertainty (impacted by the coronavirus pandemic)
- Corporate Strategy
- Savings and Transformation Strategy
A schedule of ongoing risks and risks identified by Service Management Teams and Management Team since the last report to this Committee in January 2020 were set out in Annex 2 of the report.
Members noted that a number of current mitigation measures set out in Annex 1 had been overtaken by events. For example, the likelihood of a No Deal Brexit. However, Members were assured that the risks to the organisation were reviewed and monitored regularly.
RESOLVED: That the escalation of a number of key risks to RED (summarised above and set out in paragraph 1.3.4) as a consequence of the coronavirus pandemic be noted and acknowledged.
Publication date: 05/08/2020
Date of decision: 27/07/2020
Decided at meeting: 27/07/2020 - Audit Committee
Accompanying Documents: