Issue - meetings

Report CEO1634

The Committee considered the annual report of audit activity in 2015/16 which was intended to assist the Council in meeting the financial management and internal control requirements of the Accounts and Audit Regulations 2015.  Part of the overall arrangements requires the Chief Executive and Leader to sign an Annual Governance Statement.

Internal Audit’s main objective remained ‘assisting management and Members in minimising risks, maintaining high standards and continuously improving service delivery through independent appraisal, review and advice.’ This was carried out in 2015/16 by:

• independently reviewing, appraising and providing assurance on the systems of control throughout the Authority assisted in part by LB Wandsworth
• ascertaining the extent of compliance with procedures, policies, regulations and legislation
• facilitating good practice in managing risks working with insurers
• working in partnership with the external auditors and other external providers
• identifying fraud and carrying out investigations working in partnership with RB Greenwich
• continuing to host the interactive web training for officers in Financial Regulations, Contract Procedure Rules and fraud awareness.   Developing a web based interactive training packages on audit controls on key audit findings and risk management.

The purpose of the 2015/16 Internal Audit Plan was to:

·   Optimise the use of audit resources available, given that these were significantly limited and utilise the audit services of the London Borough of Wandsworth.

·  Identify the key risks facing the Council in achieving its objectives and determine the corresponding level of audit resources.

·  Ensure effective audit coverage and a mechanism to provide Members, and senior managers with an overall opinion on the auditable areas and the overall control environment.

·  Add value and support to senior management in providing effective control and identifying opportunities for improvement.

·  Support the Director of Finance in fulfilling obligations as the Council’s nominated Section 151 Officer.

·  Deliver an Internal Audit service that meets the requirements of the Accounts & Audit Regulations 2015 and the Code of Practice.

·  Carry out major investigative work and adopt the lessons learnt by utilising these in other audits particularly in relation to cumulative spend.

·  Provide adequate assurances on our work so that our external auditors can place reliance on our work.

The Committee noted the outcome of the Peer Review that had been undertaken.

Members also noted and endorsed the Annual Governance Statement.

RESOLVED: that the draft Annual Governance Statement be approved.