Agenda item

Partial Audits and ORG0043 Risk Update

To consider this report.

Decision:

The Chair invited the Interim Director of Finance and the Corporate Risk Manager, Insurance Service, Finance to introduce this report that provided details of the latest position of each of the 11 identified strategic risks to the Council achieving its objectives.

 

There was a discussion of the report, particularly Appendix A the Strategic Risk Report, with the Risk Manager explaining the information in the register including the rating of the risks and the actions being taken to mitigate each. It was noted that regarding ORG0043 ‘maintain a sustainable budget’ both the description and mitigation had been updated but it remained the most critical risk to the Council.

 

Members heard that the Council’s Senior Leadership Team continued the work to over view and review the Council’s strategic risks including identifying, quantifying, and mitigating any risk that affected or was inherent in the Council’s business strategy, strategic objectives, and strategy execution.

 

Attention was directed to Appendix B which detailed the Internal Audits partial recommendations report and highlighted the progress of individual partial audits through to completion. Members noted there were several partial audits that had remained open after several years and after a discussion it was agreed the Interim Director would invite the relevant managers to attend future Committee meetings to provide assurance that progress was being made.

 

The report was accepted, and it was noted that good progress was being maintained.

Minutes:

The Chair invited the Interim Director of Finance and the Corporate Risk Manager, Insurance Service, Finance to introduce this report that provided details of the latest position of each of the 11 identified strategic risks to the Council achieving its objectives.

 

There was a discussion of the report, particularly Appendix A the Strategic Risk Report, with the Risk Manager explaining the information in the register including the rating of the risks and the actions being taken to mitigate each. It was noted that regarding ORG0043 ‘maintain a sustainable budget’ both the description and mitigation had been updated but it remained the most critical risk to the Council.

 

Members heard that the Council’s Senior Leadership Team continued the work to over view and review the Council’s strategic risks including identifying, quantifying, and mitigating any risk that affected or was inherent in the Council’s business strategy, strategic objectives, and strategy execution.

 

Attention was directed to Appendix B which detailed the Internal Audits partial recommendations report and highlighted the progress of individual partial audits through to completion. Members noted there were several partial audits that had remained open after several years and after a discussion it was agreed the Interim Director would invite the relevant managers to attend future Committee meetings to provide assurance that progress was being made.

 

The report was accepted, and it was noted that good progress was being maintained.

Supporting documents: