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Audit, Standards and Statutory Accounts Committee - Thursday, 18 April 2024 7.00 pm

April 18, 2024 Audit, Standards and Statutory Accounts Committee View on council website Watch video of meeting Read transcript (Professional subscription required)

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Summary

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The council meeting focused on reviewing and discussing various audit and risk management strategies, external audits, and fraud prevention plans. Key topics included the Twickenham Riverside project, the 2023-24 external audit delays, and the 2024-25 internal audit plan.

  1. Twickenham Riverside Project Audit: The committee reviewed the internal audit report, which gave a reasonable assurance but noted some governance and decision-making issues. There was debate about the adequacy of stakeholder consultation, with public speakers expressing dissatisfaction. The decision to accept the audit findings was made, emphasizing the need for ongoing scrutiny of the project.

  2. 2022-23 External Audit Delays: The committee discussed the inability to complete the audit by the government's deadline, attributing it to sector-wide challenges and resource issues at Ernst & Young. The decision to note the situation was made, with an understanding that this was a broader issue affecting many councils, not just theirs.

  3. 2024-25 Internal Audit Plan: The plan was presented, outlining the focus areas for the upcoming year. There was a brief discussion on the methodology of risk assessment, with some members questioning the categorization of certain risks. The committee decided to defer approval until the next meeting to allow more time for review.

  4. Fraud Prevention Plan: The Fraud Prevention Plan for 2024-25 was discussed, highlighting a shift towards more proactive measures. The committee noted the plan and the progress report from the previous year, acknowledging the challenges in measuring the success of prevention strategies.

Surprisingly, the meeting had a moment of tension regarding the transparency and timing of document distribution, with some members expressing dissatisfaction with receiving materials only shortly before the meeting, which led to a decision to defer approval of the internal audit plan.

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Meeting Documents

Agenda

Agenda frontsheet Thursday 18-Apr-2024 19.00 Audit Standards and Statutory Accounts Committee

Additional Documents

Twickenham Riverside Audit
Internal Audit Charter Strategy and Plan
TR Final Audit Report 23-24
Item 5 - Annual Review of Risk Strategy Thursday 18-Apr-2024 19.00 Audit Standards and Statutory
Progress against the 2023-24 Audit Plan
Minutes 22012024 Audit Standards and Statutory Accounts Committee
Annual Review of Risk Management
Update on External Audit
LBR Appendix 2
LBR Audit Cttee cyber 2024 1.0
LBR Fraud Update Report Apr 2024
ASSA Forward Plan