The Audit and Risk Management Committee of the City of London Council is scheduled to convene on Monday, 11 May 2026. The meeting's agenda includes discussions on the Annual Governance Statement for the City Fund, the Corporate Anti-Fraud & Corruption Strategy, and updates on internal audit activities.

Annual Governance Statement (City Fund) 2025/26

A key item scheduled for discussion is the Annual Governance Statement (City Fund) for the 2025/26 financial year. This statement, required by the Accounts and Audit (England) Regulations 2015, will be presented alongside the City Fund and Pension Fund Statement of Accounts. The document outlines the City Corporation's assessment of its governance effectiveness during the past year, details improvements planned for 2026/27, and provides a forward look on governance matters. The committee is asked to consider and approve this statement before it is signed by the Chair of the Policy and Resources Committee and the Town Clerk and Chief Executive.

Corporate Anti-Fraud & Corruption Strategy 2025-2029

The committee is also set to review the Corporate Anti-Fraud & Corruption Strategy for 2025-2029. This strategy aims to provide a framework for the City Corporation's response to fraud and corruption, focusing on four pillars: Govern, Acknowledge, Prevent, and Respond. The strategy is aligned with the Corporate Plan 2024-2029 and aims to protect public funds, promote integrity, and embed fraud prevention across the organisation. The committee is being asked to endorse this strategy.

Internal Audit Update

An update on Internal Audit activities between 14 February 2026 and 31 March 2026 is scheduled for discussion. This report details the outcomes of completed Internal Audit reviews, including assurance ratings and recommendations made. It notes that 16 audit reviews were completed to the final report stage, with 4 reaching draft report stage. The report also highlights a reduction in overdue recommendations and confirms the delivery of the 2025/26 Internal Audit Plan.

Other Scheduled Discussions

The meeting's agenda also includes the appointment of sub-committees, including the Nominations and Effectiveness Sub-Committee, and the appointment of a member to the Resource and Estates Committee of the Police Authority Board. Attendees will also receive an update on internal audit activities and the 2025-26 External Audit Plan for the City's Estate. Furthermore, the committee will be presented with the Risk Management Strategy 2024-2029 Annual Review (Year 2) and a Risk Management Update. The Head of Internal Audit's Annual Opinion, which provides an overall conclusion on the adequacy of the City of London Corporation's internal control environment, governance arrangements, and risk management processes, will also be presented for information.