Decision details

The Audit Committee: 

1.     Noted that a risk deep dive report from an Executive Director  

          each meeting, providing a narrative of their strategic risks 

          and the steps they have taken to mitigate and manage  

          each risk, starting at the 30 May 2024 meeting, with a report 

          from the Executive Director of Resources and Corporate 

          Services. 

2.     Received information that a Workshop will be held with CLT in April/May 2024 to explore the challenges and identify solutions in continuing to improve the quality of strategic risk identification and management at Somerset, whether this is regarding governance, reporting, accountability, clarification of roles and responsibilities and any other necessary step. 

3.    Noted that a proposed revised RAG matrix will be reported to Audit Committee following the CLT workshop and presentation to Statutory Officers Board (SOB) and/or Performance, Risk & Budget Board (PRBB). 

4.    Noted that a proposed risk appetite approach will be reported to Audit Committee following the CLT workshop and presentation to SOB and/or PRBB. 

5.    Noted the current strategic risks for Somerset Council set out in Appendix One of the report. 

6.    Noted the responses to the questions raised by the Committee’s Independent person in a meeting on the 14 February 2024 that was held following the January committee.