Agenda and draft minutes

Audit and Risk Management Committee
Thursday, 6th December, 2018 7.00 pm

Venue: Room 2, Civic Centre, Silver Street, Enfield, EN1 3XA. View directions

Contact: Metin Halil 

Items
No. Item

868.

WELCOME AND APOLOGIES FOR ABSENCE

Minutes:

Councillor Bedekova (Chair) welcomed everyone to the meeting.

 

This was Councillor Lee David-Sanders first meeting and the Chair welcomed him to the Committee.

 

Apologies for absence were received from Councillor Yusuf

Apologies for absence were also received from Jeremy Chambers (Director of Law & Governance), and Jayne Fitzgerald (Head of Corporate Finance).

 

869.

DECLARATION OF INTERESTS

Members of the Committee are invited to identify any disclosable pecuniary, other pecuniary or non - pecuniary interests relevant to items on the agenda.

Minutes:

There were no declarations of interest.

870.

BDO - AUDIT PROJECT PLAN 2019/20 pdf icon PDF 370 KB

To receive from BDO (external auditors) an Audit Project Plan for 2019/20.

 

Minutes:

RECEIVED from BDO the Enfield project plan for the year ending 31 March 2019.

 

NOTED

 

1.    The report was introduced by David Eagles (BDO).

2.    A de-brief meeting had been held between BDO and the Council’s finance team on 20 November 2018. A number of action were agreed to ensure that BDO plan to meet the statutory deadline of 31 July 2019 for the 2018/19 audit.

3.    The key areas of the plan that were discussed and agreed, as detailed on pages 1-2 of the report:

a.    Timetable

b.    Communication

c.    Interim Audit visit

d.    PPE valuations

e.    Technical reviews

4.    The following questions and queries raised in response to the report:

a.    Gemma Young (Head – Internal Audit & Risk Management) asked for clarity regarding the communications plan. If there was any slippage in what BDO has planned what would the escalation process to senior management and those charged with governance be. David Eagles (BDO) clarified that the finance team would be on-site so BDO would have a chance to talk things through with them. In addition to the interim visits and final stages of the audit, there will also be a weekly formal catch up with all involved if needed. So, if there any significant issues, these would be flagged up to Fay Hammonds team for a mitigation discussion. If there was anything, BDO felt, that was a real risk then this would be initially reported to the Chair of the Committee and then to the committee through progress reports. Fay Hammond further clarified that there were 2 levels of formal meetings arranged:

·         Operational meetings – more frequent.

·         Higher level – Chief Executive, once or twice a year.

b.    Councillor Leaver confirmed that BDO are bringing all the audit risks forward to the interim period. David Eagles confirmed this and further clarified that some things were inevitably back ended which would be looked at by the year end i.e. production of the accounts.

c.    Councillor Leaver asked if there was enough time from May/June 2019 to finalise the 2018/19 accounts ready for sign off. David Eagles clarified that there was enough time. The intention of the Gantt charts, as detailed on pages 5-6, of the report is to show who BDO have got coming in to do which particular things at which particular point in time. This would allow BDO to clearly see where the pinch points are.

d.    Fay Hammond’s comments that finance were very pleased that more things were being done up front but it did require officers to do things differently. Fay didn’t think that there was any more that could be done other than the plan being reported on, except pushing boundaries on the technical review side and how that worked from BDO’s side.

The key problem areas’ that BDO had with the 2017/18 accounts had been valuations of the HRA asset account, the post codes used to make those valuations and the Meridian Water asset classifications.

e.    David Eagles further clarified the Meridian Water  ...  view the full minutes text for item 870.

871.

MINUTES pdf icon PDF 193 KB

Audit & Risk Management Committee

 

a.         To receive and agree the minutes of the Audit Committee meeting held on Thursday 18 October 2018 as a correct record.

 

b.         To note the update on actions identified at the last meeting.

 

Additional documents:

Minutes:

AGREED that the minutes of the Audit Committee meeting dated 18 October 2018 be approved and signed as a correct record.

 

872.

AUDIT & RISK MANAGEMENT COMMITTEE WORK PROGRAMME 2018/19 pdf icon PDF 187 KB

The Committee is asked to agree the Work Programme put forward for the 2018/19 municipal year along with the timetabling of each issue on the Work Programme.

 

Minutes:

RECEIVED an outline work programme for the Committee covering the 2018/19 Municipal Year Committee.

 

AGREED to approve the outline work programme for 2018/19 subject to the following inclusions:

 

·         Request by members to hear a Universal Credit (UC) implementation update

·         Request by members to hear a Brexit report

·         Request by members to move the 10 January 2019 meeting to the 24 January 2019.

 

All the above points have now been actioned. The UC update and the Brexit report will be heard at the 24 January 2019 Committee meeting.

 

873.

DATES OF FUTURE MEETINGS

To note the dates agreed for future meetings of the Audit & Risk Management Committee:

 

Thursday 10 January 2019

Wednesday 6 March 2019

 

 

(All meetings to commence at 7.00pm unless otherwise agreed.)

 

Minutes:

To note the dates agreed for future meetings of the Audit & Risk Management Committee:

 

Thursday 24 January 2019

Wednesday 6 March 2019

 

 

(All meetings to commence at 7.00pm unless otherwise agreed.)