The West of England Combined Authority Audit Committee met on Monday 14 September 2026 to review the authority's corporate risk and opportunity registers, internal audit progress, and the organisational improvement programme. The committee also received updates on information governance, treasury management, and the monitoring and evaluation framework.

Quarterly Corporate Risk and Opportunity Registers

The Audit Committee received an update on the authority's Corporate Risk Register (CRR) and Corporate Opportunity Register (COR). The CRR currently lists seven principal corporate risks, with one risk, CRR6 (Global Economic Uncertainty), remaining above the authority's approved risk appetite. This risk is primarily driven by external geopolitical and economic factors. Mitigations in place include robust financial governance and ongoing monitoring. The COR has seen the closure of COP19 (Achievement of Established Strategic Authority Status) following the authority's successful attainment of this status on 31 July 2026. Two new opportunities have been identified: COP20 (Rewiring the State / Devolution Reform) and COP21 (New Town Programme Delivery). These emerging opportunities present significant strategic potential but require further assessment of associated implications for governance, capacity, and capability. The report highlighted that programme and project delivery, financial and budgetary pressures, resource constraints, and uncertainty and change are the primary drivers influencing the organisation's risk profile.

Internal Audit Update

Internal Audit provided a progress report on its work for the financial year 2026/27. Key areas of focus included the completion of planned work for Q1 and Q2, grant certification work totalling approximately £1.9 million, and follow-up on recommendations from previous internal audits. The report noted that good progress is being made on the annual audit plan, with over half of the scheduled work either complete or in progress. A standalone audit review of the Organisational Improvement Programme (OIP) is underway, assessing its governance, oversight, and risk management arrangements. Regarding grant certifications, five claims totalling around £1.9 million have been reviewed and found to comply with grant expenditure terms and conditions. In terms of follow-ups on previous audit reports, only one audit, relating to the Mobility as a Service (MaaS) project management, had outstanding recommendations. These have been extended due to staff changes, with a meeting scheduled with the new Director of Transport Programmes to address them.

Organisational Improvement Programme Update

The Audit Committee received an overview of the progress, governance, risks, and next steps for the Organisational Improvement Programme (OIP). A significant achievement highlighted was the Combined Authority attaining Established Authority status in July 2026, ahead of schedule. The report detailed strengthened governance structures, enhanced financial and performance management, and improvements in decision pathways and the drafting of the constitution. Internal Audit had previously provided reasonable assurance on the programme, noting strong governance, accountability, and risk management. The OIP has been instrumental in developing leadership, organisational learning, workforce engagement, and implementing the target operating model. The programme's success has led to the decision for it to evolve into a permanent continuous improvement and transformation function to support future devolution opportunities.

Information Governance Update

This report updated the Audit Committee on the implementation of the Combined Authority's Information Governance Framework and presented performance data for Freedom of Information (FOI) and Environmental Information Regulations (EIR) requests for 2026/27 to date. A new Information Governance Framework has been developed, establishing a structured approach to information management and creating an Information Governance Board for strategic leadership. Clear responsibilities have been defined, including Information Asset Owners and Custodians. A data protection complaints policy has also been implemented, as required by the Data Use and Access Act 2025. Performance in responding to FOI and EIR requests has seen a slight drop in timeliness compared to the previous year, with 80% of requests responded to within the statutory timeframe year-to-date. Investigations are underway to identify the causes and implement mitigating actions.

Treasury Management Monitoring Report Q1 2026/27

The committee received a review of treasury management performance for the first four months of the financial year, up to 31 July 2026. The authority's overall investment balances stood at £450.2 million. Total income returned for the period was £6.1 million, exceeding the budgeted figure by over half a million pounds, with an average interest rate of 4.3%. Pooled funds experienced positive performance, leading to an increase in capital value, although a net unrealised capital loss of £2.8 million remains, covered by a £5 million reserve. All treasury management prudential indicators were within their targets. The report also detailed the authority's responsible investment approach, with investments primarily with signatories of the United Nations Principles of Responsible Investment (PRI).

Update on Monitoring & Evaluation Framework

This report provided an update on the implementation of the West of England MCA's Monitoring & Evaluation (M&E) Framework since September 2025. The framework, updated in February 2026, now incorporates guidance on benefits management and lessons learned from previous evaluations. Significant evaluation activity has been completed across various thematic areas, including skills, environment, and transport projects. Learning from these evaluations has informed decision-making, such as the simplification of delivery models and improvements to administrative processes. The Organisational Improvement Programme's Evaluation workstream is strengthening M&E plans for priority projects. The committee was asked to provide a steer on the frequency and type of future updates required.

Forward Work Plan

The committee reviewed its Forward Work Plan for the upcoming year, which details the reports to be presented at each meeting to ensure compliance with statutory requirements and the committee's terms of reference. Several items were suggested for inclusion during the meeting, which will be considered for scheduling in future meetings. The committee noted that the IR35 update had been rescheduled to December.

The meeting concluded with a brief feedback session and a reminder of the next meeting on Monday 28 September 2026.