Issue - meetings

Report of the Head of Audit and Risk Management:

i)                    To provide a copy of the latest Corporate Risk Register for review;

ii)                  To report on business units’ and departments’ actions to monitor, review and update risk registers in accordance with the Councils risk management strategy.

Anne Woods, Head of Audit and Risk Management, presented the report on the latest corporate risk register and business units’ and departments’ actions to monitor, review and update risk registers in compliance with the Council’s risk management strategy. In accordance with the corporate risk management strategy, CIPFA code of practice and terms of reference of the Audit Committee, the corporate risk register was presented to the Committee on an annual basis. It was reported that the corporate risk register was reviewed on a quarterly basis by the Chief Executive’s management board, and that the Audit Committee received quarterly reports on the implementation of the corporate risk management strategy.

The Committee expressed concern regarding the high likelihood recorded in relation to inadequate financial management and reductions in specific and general grant allocations, in response to which the Chief Financial Officer advised that the likelihood related to the reduction in grant allocation aspect, rather than inadequate financial management. The Committee suggested that these two aspects should be separated into different risks, to make this point clear.

In response to concerns from the Committee regarding the relatively high likelihood attributed to the risk of lack of safety and well-being for clients within child protection services, the Head of Audit and Risk Management advised that the risk remained high while actions from the ongoing action plan were still in the process of becoming embedded. It was reported that improvements had been made, but that there was further progress to be made and that, as this progress was reviewed, the risk would reduce further.

The Committee asked for clarification of the basis on which the assessment of the risks associated with staffing issues was made, in response to which it was confirmed that this was in the context of the impact of reductions in grant funding and Government cuts. Members requested that this background be made clearer in the report, so that the commentary provided supported the scores given.

In response to general questions and concerns regarding how the assessments of likelihood and impact were made, the Head of Audit and Risk Management advised that all the assessments were made on a subjective basis and would change as situations developed.

The Chair advised the Committee that greater detail was provided in the quarterly risk management reports and that it was the responsibility of the Audit Committee to review the corporate risk register once a year. The Chair advised that he had looked into the corporate risk register in detail, and compared it with the previous year’s report. The Chair had asked a number of questions regarding the report in advance of the meeting, and had received a full response from the Chief Financial Officer in respect of these questions. It was agreed that this correspondence would be circulated to all Members of the Committee for information. The Chair thanked the Chief Financial Officer for the response he had received and asked the Chief Financial Officer to confirm that the report and corporate risk register complied  ...  view the full minutes text for item 13