Issue - meetings

Report of the Head of Audit and Risk Management to advise the Audit Committee of the results of the CIPFA Benchmarking exercise completed in 2008/09.

The Head of Audit and Risk Management presented the report to advise the Committee of the results of the CIPFA Benchmarking exercise completed in 2008/09. The findings of the exercise would be used to analyse the council’s achievement of Value for Money, which would contribute to the annual CPA Use of Resources assessment. The report showed the council’s performance within the benchmarked group of the 18 London authorities who had participated in the exercise, and covered the categories of cost analysis, audit coverage and staffing.

The Committee asked for clarification of how the findings of the exercise demonstrated the achievement of Value for Money in the council’s Internal Audit provision. It was reported that the cost analysis demonstrated that the council was attaining a level of coverage comparable with other authorities, for a lower cost. The Committee also asked whether the council was providing adequate internal audit coverage at present. It was reported that there were no set minimum or maximum levels of coverage, but that any issues arising as to the adequacy of the coverage provided by the council’s Internal Audit team would be picked up by the council’s external auditors, and that no such issues had been identified. In response to a question from the Committee, it was reported that the internal audit work programme was formulated on a risk-based approach. The annual plan of work was compiled on the basis of the key risks that had been identified, and was presented to the Audit Committee for discussion and approval each year.

RESOLVED

That the content of the report be noted.