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Venue: Committee Rooms, 2nd Floor, West Wing, Guildhall

Contact: Chloe Rew
tel. no.: 020 7332 1427  Email: chloe.rew@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

Minutes:

Apologies were received from Deputy Chairman Alexander Barr, Alderman Nicholas Anstee and Jeremy Mayhew.

 ...  view the full minutes text for item 1.

2.

Members' Declarations under the Code of Conduct in respect of items on the Agenda

Minutes:

There were no declarations.

 ...  view the full minutes text for item 2.

3.

Minutes of the previous meeting pdf icon PDF 109 KB

To agree the public minutes of the meeting held on 7 May 2019.

 ...  view the full agenda text for item 3.

Minutes:

RESOLVED, that – the public minutes of the previous meeting held 7 May 2019 were agreed as a correct record.

 ...  view the full minutes text for item 3.

4.

Outstanding Actions of the Committee pdf icon PDF 62 KB

Report of the Town Clerk.

 ...  view the full agenda text for item 4.

Minutes:

RESOLVED, that – the outstanding actions of the Committee be received and their contents noted.

 ...  view the full minutes text for item 4.

5.

Committee Work Programme pdf icon PDF 49 KB

Report of the Town Clerk.

 ...  view the full agenda text for item 5.

Minutes:

RESOLVED, that – the Committee Work Programme be received, with the following amendments.

 

1.    The Bridge House Estates accounts be moved to 24 September 2019;

2.    A Deep Dive of CR16 Information Security be moved to 24 September 2019.

 ...  view the full minutes text for item 5.

6.

2018-19 City Fund and Pension Fund Financial Statements pdf icon PDF 104 KB

Report of the Chamberlain.

 ...  view the full agenda text for item 6.

Additional documents:

Minutes:

Members considered a report of the Chamberlain relative to the 2018-19 City Fund and Pension Fund Financial Statements, to be published by 31 July 2019 subject to the Committee’s approval. The latest version of the accounts was provided with the report, in addition to the BDO audit progress report. Members received further details from the External Auditors relative to the BDO reports included as appendices 2 and 3. The Chamberlain reported that the final version of the accounts would be completed within one week. It was noted that the recommendation be amended to delegate authority to the Deputy Chamberlain, in the Chamberlain’s absence.

 

RESOLVED, that – the Audit and Risk Management Committee:

1.    consider the content of BDO’s audit progress report;

2.    recommend approval of the 2018-19 City Fund and City Pension Fund Statement of Account to the Finance Committee; and

3.    delegate authority to the Deputy Chamberlain, in consultation with the Chairman and Deputy Chairmen of the Audit and Risk Management Committee, approval of any material change to the financial statement required before the signing of the audit opinion by BDO, which is expected by the end of July 2019.

 

 ...  view the full minutes text for item 6.

7.

Bridge House Estate Accounts pdf icon PDF 102 KB

Report of the Chamberlain.

 ...  view the full agenda text for item 7.

Additional documents:

Minutes:

Members considered a report of the Chamberlain relative to the Bridge House Estates (BHE) Annual Report and Financial Statements for 2018/19. The Chamberlain reported that due to unforeseen circumstances with the external auditors, the full accounts and audit report were not available to be presented to the Committee at that time. Members of the Finance Committee will be invited to attend the September meeting of the Audit and Risk Management Committee when the BHE accounts and audit reports are considered. Finance Committee Members will not be allowed to vote, unless they are separately Members of the Audit and Risk Management Committee.

 

RESOLVED, that – the Bridge House Estates accounts and audit report be re-submitted to the Committee at its next meeting on 24 September 2019.

 ...  view the full minutes text for item 7.

8.

Internal Audit Update pdf icon PDF 83 KB

Report of the Head of Audit & Risk Management.

 ...  view the full agenda text for item 8.

Additional documents:

Minutes:

Members received a report of the Head of Audit and Risk Management relative to internal audit update activity since the last Internal Audit Update Report presented to the Committee in March 2019. The Corporate Follow-Up forward plan was set out, with the proposed frequency of follow-ups being increased to promote regular review of recommendation implementation. In response to a request from a Member, the Head of Audit and Risk Management undertook to even out the delivery of work across the year to avoid a peak of work at year end and significant carry forward to the subsequent year, noting that effective relationships between internal audit and Chief/Senior Officers is critical to this.

 

RESOLVED, that – the report be received and its contents noted.

 ...  view the full minutes text for item 8.

9.

Anti-Fraud and Investigations - 2018/19 Annual Report pdf icon PDF 99 KB

Report of the Head of Audit and Risk Management.

 ...  view the full agenda text for item 9.

Additional documents:

Minutes:

Members received a report of the Head of Audit and Risk Management relative to an update on the activity of the Anti-Fraud and Investigations team during the 2018/19 reporting year, and an update on the key anti-fraud initiatives. Additional appendices were included in the non-public and confidential agendas due to the sensitive content of the information.

 

RESOLVED, that – the report be received and its contents noted.

 

 

 ...  view the full minutes text for item 9.

10.

Corporate Risk Update pdf icon PDF 125 KB

Report of the Chamberlain.

 ...  view the full agenda text for item 10.

Additional documents:

Minutes:

11.

Deep Dive Risk Review

Minutes:

11a

CR20 - Road Safety pdf icon PDF 211 KB

Report of the Director of the Built Environment.

 ...  view the full agenda text for item 11a

Minutes:

Members received a report of the Director of the Built Environment relative to a Deep Dive of CR20 Road Safety, as the risk had recently been reviewed and revised. As a result of the revision, the effect had been updated to describe the impacts of collisions on victims, and cause had been updated to reflect the adoption of the City of London Transport Strategy. It was further noted that the target date was in line with the timing to update the Transport Strategy. Members noted that the likelihood of 2 (unlikely) was insufficient, and should be increased to 3 (possible).

 

RESOLVED, that – the report be received and its contents noted, and the likelihood be increased from 2 to 3, increasing the current risk score to 24.

 ...  view the full minutes text for item 11a

11b

CR16 - Information Security pdf icon PDF 160 KB

Report of the Chamberlain.

 ...  view the full agenda text for item 11b

Additional documents:

Minutes:

The report of the Chamberlain was deferred to a future committee meeting.

 ...  view the full minutes text for item 11b

12.

Questions on matters relating to the work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 12.

13.

Any other Business that the Chairman considers urgent

Minutes:

There was no other business.

 ...  view the full minutes text for item 13.

14.

Exclusion of the Public

 

MOTION – That under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 

Item

Paragraph

15

3

16

3 & 7

17

2 & 3

18

3

21

2 & 3

22

2 & 3

 

 ...  view the full agenda text for item 14.

Minutes:

RESOLVED, that – under Section 100(A) of the Local Government Act 1972, the public be excluded from the meeting for the following items on the grounds that they involve the likely disclosure of exempt information as defined in Part I of the Schedule 12A of the Local Government Act.

 ...  view the full minutes text for item 14.

15.

Non-Public Minutes of the previous meeting

To agree the non-public minutes of the meeting held on 7 May 2019.

 ...  view the full agenda text for item 15.

Minutes:

RESOLVED, that – the minutes of the previous meeting held 7 May 2019 be agreed as a correct record.

 ...  view the full minutes text for item 15.

16.

Deep Dive CR24 - Operational Security

Report of the Town Clerk & Chief Executive.

 ...  view the full agenda text for item 16.

Minutes:

Members received a report of the Town Clerk & Chief Executive relative to a Deep Dive of CR24 Operational Security.

 

RESOLVED, that – the report be received and its contents noted.

 ...  view the full minutes text for item 16.

17.

Appendix 3 to Anti-Fraud and Investigations - 2018/19 Annual Report

Non-public appendix to be read in conjunction with the report of the Head of Audit & Risk Management: Anti-Fraud and Investigations – 2018/19 Annual Report.

 ...  view the full agenda text for item 17.

Minutes:

The appendix was read in conjunction with the report of the Head of Audit and Risk Management at agenda item 9.

 ...  view the full minutes text for item 17.

18.

Appendix 4 to Corporate Risk Update

Non-public appendix to be read in conjunction with the report of the Chamberlain: Corporate Risk Update.

 ...  view the full agenda text for item 18.

Minutes:

The appendix was read in conjunction with the report of the Chamberlain at agenda item 10.

 ...  view the full minutes text for item 18.

19.

Non-Public questions on matters relating to the work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 19.

20.

Any Other Business that the Chairman considers urgent and which the Committee agree should be considered whilst the public are excluded

Minutes:

There was one item of other business.

 ...  view the full minutes text for item 20.

20a

Corporate Catering Contracts - Delays to Contract Signature

Joint report of the Chamberlain and the Comptroller & City Solicitor.

 ...  view the full agenda text for item 20a

Minutes:

Members received a joint report of the Chamberlain and Comptroller & City Solicitor relative to the delays to the corporate catering contract signature.

 

RESOLVED, that – the report be received and its contents noted.

 ...  view the full minutes text for item 20a

21.

Confidential Minutes

To agree the confidential minutes of the previous meeting held on 7 May 2019.

 ...  view the full agenda text for item 21.

Minutes:

RESOLVED, that – the confidential minutes of the previous meeting held 7 May 2019 be agreed as a correct record.

 ...  view the full minutes text for item 21.

22.

Appendix 4 to Anti-Fraud and Investigations - 2018/19 Annual Report

Confidential appendix to be read in conjunction with the report of the Head of Audit and Risk Management: Anti-Fraud and Investigations – 2018/19 Annual Report.

 ...  view the full agenda text for item 22.

Minutes:

The confidential appendix was read in conjunction with the report of the Head of Audit and Risk Management at agenda item 9.

 ...  view the full minutes text for item 22.

23.

Confidential Questions on Matters Relating to the Work of the Committee

Minutes:

There were no questions.

 ...  view the full minutes text for item 23.

24.

Any Other Business that the Chairman considers urgent and which the Committee agree should be considered during the Confidential Session

Minutes:

There was no other business.

 

The meeting ended at 4:00 pm and Members then met with the External Auditors in a closed session.

 ...  view the full minutes text for item 24.

 


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