Agenda

To confirm, as a correct record, the minutes of the Special Audit Committee meeting held on 26 February 2025.

Items of other business notified under Council Procedure Rule 30 to be announced, together with special circumstances that justify their consideration as a matter of urgency.  The Chair to rule on the admission of such items.

To receive and declarations of interest.

This report details:

a) Progress made by the Shared Internal Audit Service (SIAS) in delivering the Council’s annual audit plan for 2024/25 as at 7 March 2025.

b) Proposed amendments to the approved 2024/25 Annual Audit Plan.

c) Implementation status of all previously agreed audit recommendations from 2019/20 onwards.

d) An update on performance management information as at 7 March 2025.

The Head of Property Services & Major Projects will provide a verbal update on the property system.

Recommendation

Members are recommended to:

       i.          Note the Internal Audit Progress Report for the period to 7 March 2025

      ii.          Approve amendments to the Audit Plan as at 7 March 2025

     iii.          Agree changes to the implementation date for 5 audit recommendations (paragraph 2.5) for the reason set out in Appendices 3 to 5

    iv.          Agree removal of implemented audit recommendations (Appendices 3 to 5)

The purpose of internal audit is to strengthen the Council’s ability to create, protect, and sustain value by providing Members and management with independent, risk-based, and objective assurance, advice, insight, and foresight.

Recommendation

       i.          Members are recommended to approve the proposed Three Rivers District Council and the Watford & Three Rivers Shared Service Internal Audit Plans for 2025/26

      ii.          Members are requested to note the SIAS Internal Audit Strategy and provide any comments prior to approval by the SIAS Board

This report provides an update on timelines for the completion of Draft Statement of Accounts 2024/25.  It also sets out changes in Accounting Policies for 2024/25, and provides an outline of the changes to local audit system leadership and the establishment of a Local Audit Office.

Recommendation

       i.          To note the update in relation to the 2024/25 Statement of Accounts timeframes.

      ii.          To ratify the draft Accounting Policies for 2024/25 as approved by the Director of Finance as set out in Appendix 1.

     iii.          To note the changes with the Financial Reporting Council local audit system leadership and the establishment of a Local Audit Office.

Following Full Council on 10 December 2024, Officers have been asked to consider the following amendment to the Risk Management Strategy:

“To add a separate column to the right of the second table at Appendix A, concerning impact of the Green Belt. The precise risk thresholds to be agreed by the Audit Committee.”

Recommendation

That:

       i.          The Council’s Risk Management Strategy is adopted.

      ii.          The Committee agrees to give delegated Authority to Associate Director of Corporate, Customer and Community to authorise minor changes to the policy, such as terminology, clarification, or administrative corrections with no significant impact.

This report advises the Committee on the latest position in respect of the evaluation of financial risks facing the Council for discussion and any recommendations or comments they wish to make.

Recommendation

That:

That the Committee review the risk register and make any comments it wishes to make against individual risks.

Recommendation

That the Committee consider and makes necessary changes to its Work Programme.

If any confidential business is approved under item 3, it will also be necessary to specify the class of exempt or confidential information in the additional item(s) and a resolution be passed in the following terms:

“that under Section 100A (4) of the Local Government Act 1972, the press and public be excluded from the meeting for the following item(s) of business on the grounds that they involve the likely disclosure of exempt information as defined under the respective paragraphs 1 to 7 of Part 1 of Schedule 12A to the Act.”