Agenda and minutes

Members are asked to declare any interest and the nature of that interest which they may have in any of the items under consideration at this meeting.

There were no declarations of interest.

The Chairman to report on any requests to submit petitions or to address the meeting.

There were no petitions or requests to address the meeting.

The Chairman to advise whether they have agreed to any item of urgent business being admitted to the agenda.

There was no urgent business.

To confirm as a correct record the Minutes of the meeting of the Committee held on 22 October 2010.

The Minutes of the meeting held on 22 September 2010 were agreed as a correct record and signed by the Chairman.

Report of Head of Finance

Summary

The purpose of this report is to inform the committee of the Annual Audit Letter as prepared by the Audit Commission. This report summarises findings from the 2009/10 audit of the financial statements and an assessment of the arrangements to achieve value for money in the Council’s use of resources.

Recommendations

The Accounts, Audit and Risk Committee is recommended to:

(1)               Note the contents of the Annual Audit Letter.

The Committee considered a report of the Head of Finance which informed Members of the Annual Audit Letter as prepared by the Audit Commission and summarised the findings from the 2009/10 audit of the financial statements and an assessment of the arrangements to achieve value for money in the Council’s use of resources.

The District Auditor explained that the opinion of the financial statements related to the Statement of Accounts, approved by the Committee in September, and the annual governance report issued. She reported that the Council received an unqualified opinion on the statements and value for money conclusion.

Resolved

(1)               That the contents of the Annual Audit Letter be noted.

The Benefits Investigation Manager will give a presentation updating Members on the work of the Benefits Investigation Team.

The Benefits Investigation Manager gave a presentation updating Members on the work of the Benefit’s Investigation Team and provided an overview of legislative changes in the area in 2010 and Government proposals for the coming years.

The Committee was advised that the Internal Audit team had undertaken corporate fraud audit review and had given a medium level of assurance and identified no high risks. The Benefits Investigation Manager reported on the Benefits Investigation Teams performance to 30 November 2010 and explained that the Team worked closely with the Corporate Debt Recovery Team which sought to recover the debt that had been identified and recommended for recovery by the Benefits Investigation team.

The Committee commended the work of the Benefits Investigation and Corporate Debt Recovery Teams and commented that seeing such systems in place provided assurance to Members.  

Report of Chief Internal Auditor

Summary

This report provides the Committee with an update of the work of Internal Audit since the last meeting.

Recommendations

The Accounts, Audit and Risk Committee is recommended to:

(1)               Consider and approve this report.

The Committee considered a report of the Chief Internal Auditor which summarised the progress made against the internal audit plan for 20010/11 for the period from September to December 2010. The Committee was advised that 53% of the plan had been completed and the remainder would be completed by the end of the financial year.

The Chief Internal Auditor reported that since the Committee’s September meeting one final report had been issued and draft reports had been issued and/or fieldwork had commenced in eight areas.

The Committee was advised that preliminary discussions for the 2011/12 internal audit plan were underway and a draft plan would be submitted to the Committee in due course.

The Chief Internal Auditor reported on the amendments to the Internal Audit Charter which had been made to address the requirements of the Audit Commission Triennial Review.

In response to Members’ questions regarding the shared senior management arrangements with South Northamptonshire Council, the Chief Internal Auditor explained that his team had worked with officers during the development of the business case and were satisfied with the final version. He advised the Committee that the 2011/12 internal audit plan would include areas relating to shared working.

Resolved

(1)               That the Internal Audit progress report be approved.

Report of Head of Finance

Summary

The purpose of this report is to provide a brief update to Councillors on the Councils progress towards IFRS and completing the 2010/11 Statement of Accounts under these new standards.

Recommendations

The Accounts, Audit and Risk Committee is recommended to:

(1)               Note the contents of this report and the officers’ proposed actions to deal with the implementation of IFRS.

The Committee considered a report of the Head of Finance which provided a brief update to Councillors on the Councils progress towards International Financial Reporting Standards (IFRS) and completing the 2010/11 Statement of Accounts under these new standards.

Resolved

(1)               That the contents of this report and the officers’ proposed actions to deal with the implementation of IFRS be noted.

Report of Corporate Strategy and Performance Manager and Risk Management & Insurance Officer

Summary

To endorse the underlying principles of risk and opportunity management, to update the Committee on the management of Strategic, Corporate and Partnership Risks (Core Risks) and endorse the proposed reporting timetable for 2011/2012.

Recommendations

The Accounts, Audit and Risk Committee is recommended to endorse:

(1)               The underlying principles for risk management.

(2)               The Strategic, Corporate and Partnership (Core) Risk Register

(3)               The proposed reporting timetable to the Executive and the Accounts Audit & Risk Committee 2011/2012.

The Committee considered a joint report of the Corporate Strategy and Performance Manager and the Risk Management & Insurance Officer which sought endorsement of the underlying principles of risk and opportunity management, updated the Committee on the management of Strategic, Corporate and Partnership Risks (Core Risks) and sought endorsement of the proposed reporting timetable for 2011/2012.

Resolved

(1)               That the underlying principles for risk management be endorsed.

(2)               That the Strategic, Corporate and Partnership (Core) Risk Register be endorsed.

(3)               That the proposed reporting timetable to the Executive and the Accounts Audit & Risk Committee for 2011/2012 be endorsed.

Report of Corporate Strategy and Performance Manager & Risk Management and Insurance Officer

Summary

To present the Risk Management Strategy for 2011/12 for consideration and comment by the Accounts, Audit & Risk Committee in advance of its consideration by the Council’s Executive in 2011.

Recommendations

The Accounts Audit & Risk Committee is recommended to:

(1)               Endorse the Risk Management Strategy 2011/12 (Appendix A).

(2)               Note that the views of the Accounts, Audit & Risk Committee will be reported to the Executive when they consider this item.

The Committee considered a joint report of the Corporate Strategy and Performance Manager & the Risk Management and Insurance Officer which presented the Risk Management Strategy for 2011/12 for consideration and comment by the Accounts, Audit & Risk Committee in advance of its consideration by the Council’s Executive in 2011.

Members commented that partnership risks were more significant in light of the decision to enter shared senior management arrangements with South Northamptonshire Council and that the Risk Management Strategy and Register should be amended to reflect this.

Resolved

(1)               That the Risk Management Strategy 2011/12 be endorsed.

(2)               That it be noted that the views of the Accounts, Audit & Risk Committee will be reported to the Executive when they consider this item.

1.      Chartered Institute of Public Finance and Accountancy (CIPFA) Training - Effective Audit Committee

The Chairman will brief the committee on his attendance at the CIPFA Effective Audit Committee training course on 17 November 2010. 

2.      The Head of Finance will update Members on the Work Programme.

1.      Chartered Institute of Public Finance and Accountancy (CIPFA) Training - Effective Audit Committee

The Chairman reported that he had attended the CIPFA Effective Audit Committee training course on 17 November 2010 which had been very interesting and useful. The focus of the days discussion had been budget cuts and how authorities were addressing these. 

2.      The Head of Finance updated Members on the Accounts, Audit and Risk Committee work programme and proposed that the January meeting focus on risk which was duly agreed by Members.