The Audit and Corporate Governance Committee was scheduled to meet to discuss the Internal Audit Annual Report, the Counter Fraud Annual Report, the Annual Treasury Management Outturn Report, and the External Audit Strategy, as well as to conduct an annual review of the committee's effectiveness.

The meeting was also scheduled to cover the following topics:

• London Borough of Camden Remedies Policy & Procedure Complaints (service failure) Property Management
• Work and Training Plan and Action Tracker

Internal Audit Annual Report

The committee was scheduled to receive an update on the work undertaken by Internal Audit regarding the delivery of the 2024-25 Internal Audit Plan, from 1 April 2024 to 31 May 2025.

The report was intended to support the Audit and Corporate Governance Committee in obtaining assurance that the Council has a sound framework of governance, risk management and internal control.

The Head of Internal Audit (HIA) annual opinion for 2024-25 is:

Moderate Assurance The adequacy and effectiveness of the overall arrangements for the Council's systems of internal control, risk management and governance are adequate, with some improvement required.

The report also included details of the outcomes of the delivery of the 2024-25 audit plan and outcomes of follow up audits. Summary details of high priority recommendations not previously reported to the Committee were also included.

2024-25 Annual Counter Fraud Report

The Audit and Corporate Governance Committee was scheduled to receive a summary of anti-fraud activities undertaken during the 2024-25 year, covering the period 1 April 2024 to 31 March 2025.

The report included an update on counter-fraud work undertaken by the Council's Anti-Fraud and Investigations Team and the Housing Investigations Team.

Between 1 April 2024 and 31 March 2025, the Anti-Fraud and Investigations Team received 120 referrals of suspected fraud, theft or irregularity, including nine whistleblowing referrals. 66 of the closed referrals were found to be substantiated and 28 were found to be unsubstantiated.

The Housing Investigations team recovered 70 properties.

The report also included an update on the Council's usage of its powers under the Regulation of Investigatory Powers Act 2000 (RIPA). The Council had requested one application to communications data for the period 1 April 2024 to 31 March 2025 and due process was followed.

The report also included an updated version of the Social Media Policy for Investigations.

Annual Treasury Management Outturn Report 2024/25

The committee was scheduled to discuss the council's treasury outturn position and activity for the 2024/25 financial year. The report outlined how the Council has complied with regulatory requirements and treasury indicators and provides an update on the economic context influencing treasury decisions and performance during 2024/25.

As of 31 March 2025, Camden Council's total external borrowing stood at £294 million, a reduction of approximately £21 million compared to the previous year's closing balance of £315 million. The Council's Capital Financing Requirement (CFR) rose to £705 million, up from £656 million the year before.

The Council's borrowing portfolio consists of a mix of fixed-rate PWLB loans and variable-rate market loans, including LOBOs.

In June 2022, Camden launched a Community Municipal Investment (CMI), a form of local climate bond at a value of £1 million with an interest rate of 1.75%.

On 24 April 2025 a £6.4 million loan was made to Camden Living Housing Association (CLHA), a wholly owned Council subsidiary, to fund the acquisition of 34 affordable homes (social rent tenure) at Central Somers Town.

External Audit Strategy 2024/25

The Audit and Corporate Governance Committee was scheduled to discuss the plans from the external auditor Forvis Mazars for the audit of the 2024/25 accounts.

The report presented detail of the responsibilities, resourcing, the scope of audit and broad timeline for the audit's completion. Unlike for 2022/23 and 2023/24 Forvis Mazars plan to conduct a full audit of the Council for 2024/25.

The External Audit Strategy 2024-25 noted that the audits for 2019/20, 2020/21 and 2021/22 were concluded in 2024, with the Council and Pension Fund receiving an unqualified opinion. Due to insufficient time to fully complete the audits of the 2022/23 and 2023/24 Council accounts Camden received a disclaimed audit opinion for those financial years.

The External Audit Strategy 2024-25 Appendix A stated that the audit was planned and would be performed to provide reasonable assurance that the financial statements are free from material misstatement and give a true and fair view.

Annual Review of the Committee's Effectiveness

The Audit and Corporate Governance Committee was scheduled to discuss the outcome of an annual review of the Committee's effectiveness in 2024-25.

The effectiveness review for the previous year i.e. 2023-24 involved a comprehensive self-assessment session in the form of a workshop, which was facilitated by a representative from CIPFA in April 2024. As a result of the self-assessment exercise, a number of recommendations were made.

Given the recent nature of the comprehensive self-assessment in April 2024, a more streamlined approach was undertaken for 2024-25. This entailed a short survey which asked members to evaluate the Committee's effectiveness in May 2025.

The ACGC Annual Review of Effectiveness 2024-25 Appendix A provided an update on the implementation of recommendations emanating from the supported self-assessment session held in April 2024.

London Borough of Camden Remedies Policy & Procedure Complaints (service failure) Property Management

The committee was scheduled to discuss proposed changes to the Camden Remedies Policy & Procedure Complaints (service failure), Property Management, which is considered in dealing with formal complaints, and seeks the Committee's approval for the revised policy.

The Housing Ombudsman clearly outlines that, when determining whether compensation should be awarded, a specific approach must be followed:

• Assess the length of time and impact
• Consider individual circumstances
• Provide a clear compensation framework
• Evaluate the effectiveness of redress
• Good communication
• Avoid arbitrary payments
• Learning from complaints

The Audit and Corporate Governance Committee - local compensation remedies policy Property Management set out the proposed changes to the Camden Remedies Policy & Procedure Complaints (service failure), Property Management, which is considered in dealing with formal complaints, and seeks the Committee's approval for the revised policy.

Work and Training Plan and Action Tracker

The committee was scheduled to discuss plans for the Committee's work programme and training and provides an action tracker detailing progress on actions arising from previous meetings.

The Work and Training Plan report outlined the Audit and Corporate Governance Committee's work plan for the remainder of the 2025/26 municipal year.

The Work and Training Plan Appendix A - Work Plan set out the structure of the work plan, comprised of reports that the Committee is required to take under its terms of reference, regulations or CIPFA guidance and reports the Committee has previously requested.

The Work and Training Plan Appendix B - Terms of reference outlined the Committee's terms of reference.

The Work and Training Plan Appendix C - Action Tracker set out the action tracker for actions arising from the meetings in 2024/25.

The Work and Training Plan Appendix D - CIPFA Guidance listed the nine elements of the Chartered Institute of Public Finance Accountancy's (CIPFA) guidance on 'Evaluating the Effectiveness of an Audit Committee'.