The Audit and Standards Committee was scheduled to consider a range of financial and operational reports, including a revised strategic risk register, updates on performance monitoring, and policies relating to fraud and anti-money laundering. The committee was also scheduled to review treasury management activities and internal audit progress.

Revised Strategic Risk Register

The committee was scheduled to consider and approve a revised Strategic Risk Register and the council's approach to strategic risk management. This revised register aims to focus on broader strategic and systemic risks rather than individual operational issues, with twelve proposed risk themes. Each risk is to be clearly defined with a named accountable Strategic Leadership Team Lead, a risk category, current and target risk scores, key controls and mitigations, control effectiveness ratings, and supporting assurance narrative. The revised approach also aims to strengthen member oversight through advance circulation of the register and pre-submitted questions.

Performance Monitoring and Service Standards

Updates were scheduled on the council's performance monitoring for the first quarter of 2026/27, with a focus on Council Plan actions. The committee was also scheduled to receive an annual update on council complaints performance for the financial year 2025/2026, outlining planned improvements to the corporate complaints function. This included reviewing performance data, root causes of complaints, and compensation payments. Additionally, an annual performance review of Our Service Standards was scheduled, presenting performance data for 2025, updates on customer experience initiatives, and findings from a recent review of these standards.

Financial and Treasury Management Reports

The committee was scheduled to review the First Quarter (Q1) Treasury Management Activity Report for the financial year to 30 June 2026. This report was to provide an update on treasury management activities, including cashflow management, the investment portfolio, borrowing, and compliance with Prudential Indicators and Treasury Limits. The report was expected to detail the council's cash position, investment income, and borrowing levels, noting that interest rates were forecast to decrease. The report also highlighted the termination of the Lothbury Property Fund and the Hermes Property Fund, with estimated capital losses to be charged against the Investment Risk Reserve.

Internal Audit Reports

Progress on the Internal Audit Plan for 2026/27 was scheduled to be presented. This included updates on completed audits, assurance opinions on the council's control environment, and a summary of open audit recommendations. A draft Internal Audit Plan for 2026-27 was also scheduled for consideration, reflecting the council's current risk profile and developed through consultation with stakeholders. The plan was designed to be agile and flexible, allowing for adjustments based on emerging risks and changing priorities.

Policies and Procedures

The committee was scheduled to consider the Proceeds of Crime and Anti-Money Laundering Policy for approval. This policy reflects current legislation and the council's procedures, aiming to prevent the organisation from being exposed to money laundering and to comply with legal and regulatory requirements. An employee flowchart was to be provided as a supporting reference guide.

Committee Operations

The committee was scheduled to consider the extension of the term of appointment for an independent co-opted member. This report sought approval to extend the current member's term for a further two years, until September 2028 or the vesting day of the new unitary authority, whichever was sooner. The committee's work programme for 2026/27 was also scheduled for review.