Audit And Risk Management Sub-committee - 19/01/2004
At a MEETING of the AUDIT AND RISK MANAGEMENT SUB-COMMITTEE OF THE FINANCE COMMITTEE held at Dundee on 19th January,2004.
Present:-
Bailies
Charles D P FARQUHAR
Neil I C POWRIE
Councillors
George REGAN
Joe FITZPATRICK
In Attendance:-
John PHILP, Audit Scotland.
Councillor REGAN, Convener, in the Chair.
Unless marked thus * all items stand delegated.
I RISK MANAGEMENT STRATEGIC PLAN 2004-2007
There was submitted Report No 88-2004 by the Principal Insurance and Risk Management Officer seeking approval of the draft Risk Management Strategic Plan 2004-2007. The draft Plan complemented the City Council's Corporate Governance undertakings.
The Sub-Committee noted and approved the draft Risk Management Strategic Plan 2004-2007.
II TIMETABLE FOR FUTURE MEETINGS
There was submitted Agenda Note AN37-2004 reporting that the next meeting of the Audit and Risk Management Sub-Committee due to take place on 17th May, 2004 had been rescheduled for Monday, 24th May at 9.30 am.
The Sub-Committee noted the change of date.
The Convener agreed to consider the undernoted items under Standing Order No 17(b) in view of the timescales involved.
III EXTERNAL AUDITORS' REPORT
The External Auditor, John Philp explained that the year end work had impacted on the finalisation of reports pertaining to systems reviews but the reports arising from these reviews would be available shortly.
IV SEMINAR
The Corporate Finance Manager reported that CIPFA in Scotland were in the process of finalising a Guidance Note on Audit Committee Principles in Local Authorities in Scotland and that once published the document would be used as the basis of a seminar for members of the Sub-Committee.
The Sub-Committee agreed to exclude the public and press during consideration of the following item of business so as to avoid disclosure of information which was exempt in terms of paragraph 8 of Schedule 7(A) to the Local Government (Scotland) Act 1973.
V INTERNAL AUDIT REPORTS
There was submitted Report No 83-2004 by the Chief Internal Auditor submitting to the Audit and Risk Management Sub-Committee a summary of the Internal Audit Reports finalised since the last meeting of the Sub-Committee.
The Executive Summaries for the reviews which had been finalised were provided in Appendix A of the report.
The Sub-Committee noted the information contained within the report.
GEORGE REGAN, Convener