Agenda and minutes

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

Contact: Ben Dunleavy
tel. no.: 020 7332 1427  Email: ben.dunleavy@cityoflondon.gov.uk

Items
No. Item

1.

Apologies

Minutes:

Apologies for absence were received from Alderman Alexander Barr, Ruby Sayed and Dan Worsley.

 

Deputy Randall Anderson observed the meeting virtually.

 

 ...  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 none.

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

3.

Election of a Chair

Minutes:

The Committee proceeded to elect a Chairman in accordance with Standing Order No. 29. Alderman Alexander Barr, as the only Member expressing their willingness to serve, was duly elected as Chairman for the ensuing year and took the Chair.

 

RESOLVED – That Alderman Alexander Barr be elected Chair of the Audit and Risk Management Committee for the ensuing year.

 

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

4.

Minutes of the previous meeting pdf icon PDF 157 KB

To agree the public minutes and non-public summary of the previous meeting held on 24 May 2022.

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

Minutes:

The public minutes and non-public summary of the meeting held on 24 May 2022 were approved as a correct record.

 

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

5.

Outstanding Actions of the Committee pdf icon PDF 120 KB

Member are asked to note the Committee’s Outstanding Actions List.

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

Minutes:

The Committee’s Outstanding Actions list was noted.

 

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

6.

Committee Work Programme pdf icon PDF 159 KB

Member are asked to note the Committee’s Work Programme.

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

Minutes:

The Committee’s Work Programme was noted.

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

7.

Annual Governance Statement 2021/22 pdf icon PDF 133 KB

Joint Report of the Town Clerk and the Chamberlain.

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

Additional documents:

Minutes:

Members received a joint report of the Town Clerk and the Chamberlain relative to the Annual Governance Statement for 2021/22 (AGS).

 

Members discussed the AGS and suggested the following amendments:

  • Emphasise in the Executive Summary that the Head of Internal Audit had provided an annual opinion on the systems of internal control (para 4)
  • Clarify that the Court of Common Council has a majority independent membership, rather than non-party political (page 2, chart);
  • Add a reference to the external Members who serve on some Committees (page 2, chart)
  • Confirm that all red (critical) priority recommendations were promptly resolved (table, page 4);
  • Reorder the key governance issues (page 8);
  • Remove ‘accurate’ when talking about City Database (para 26);
  • Emphasise the exceptional circumstances of the cancellation of the Court elections and the final impacts of the pandemic when the election of sheriffs and lord mayors interrupted the elections (para 27);
  • Change terminology to say that there are ‘key’ governance issues rather than ‘significant’ (para 34); and
  • Fix any broken links

 

Members also discussed subjects that could be included in the next AGS. These included:

  • a review of the governance changes that have been implemented in consequence of the Governance Review such as the introduction of lead members for policy priorities; and
  • post pandemic challenges such as recruitment.

 

RESOLVED, that – Members:

  • Consider and approve the AGS, as amended, for signing by the Chair of the Policy and Resources Committee and the Town Clerk and Chief Executive
  • Note that the AGS will be published alongside the 2021/22 City Fund and Pension Fund Statement of Accounts
  • Delegate authority to the Town Clerk and Chief Executive, in consultation with the Chairman and Deputy Chairmen of this Committee, to amend the AGS for any relevant significant events or developments that occur prior to the date on
 ...  view the full minutes text for item 7.

8.

Internal Audit Update pdf icon PDF 200 KB

Report of the Head of Internal Audit.

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

Minutes:

Members received a report of the Head of Internal Audit providing an update on Internal Audit activity.

 

RESOLVED, that – Members note the outcomes of completed Internal Audit work.

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

9.

Risk Management Update pdf icon PDF 236 KB

Report of the Chief Strategy Officer.

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

Additional documents:

Minutes:

Members received a report of the Chief Strategy Officer providing an update on the corporate and top red departmental risk registers.

 

A Member was concerned that there had been no changes to CR35 Unsustainable Medium-Term Finances, despite the current inflation situation. In reply, an officer said that CR35 had been considered by the Finance Committee, and the Chamberlain had explained at that the meeting that it had been kept unchanged due to the mitigating actions being taken. The Member accepted the explanation but said that they still felt it was a significant risk and were worried that it was being presented at a steady state.

 

A Member said the impact of supply chain issues was also a critical risk. They suggested it would be worth having a deep dive into this issue. An officer replied that officers were looking at broader areas than just inflation and that they could feed this back to the Risk Officer Group.

 

RESOLVED, that – Members:

  • Note the report and the corporate and top red risk registers, which now reflect the changes reported at the last Committee meeting, and that there had been no additions/de-escalations since then
  • Note that further to discussion at the May Committee:
    • CR02 (Loss of Business Support to the City) and CR10 (Adverse Political Developments) have been reviewed by the Internal Audit Team and are included in Committee papers separately (Corporate Risk – Deep Dive Review: CR02 Loss of Business Support for the City and CR10 Adverse Political Developments).  CR17 (Safeguarding) had been updated.
    • CR35 (Unsustainable Medium-Term Finances) had been updated and was discussed at Finance Committee on 14 June.

 

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

10.

Corporate Risk - Deep Dive Review: CR02 Loss of Business Support for the City and CR10 Adverse Political Developments pdf icon PDF 142 KB

Report of the Head of Internal Audit.

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

Additional documents:

Minutes:

Members received a report of the Head of Internal Audit relative to Deep Dives into CR02 Loss of Business Support for the City and CR10 Adverse Political Developments.

 

A Member asked if it was realistic to expect monthly updates on risks, given their changing nature. Officers replied that they would try to adopt a pragmatic approach to risk updates and work with risk officers to ensure there were sufficient reviews.

 

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

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

11.

Questions on matters relating to the work of the Committee

Minutes:

12.

Any other Business that the Chairman considers urgent

Minutes:

The Deputy Chair provided Members with an update from Alderman Alexander Barr on the issue of elections, which had been raised at the Committee’s previous meeting.

Members noted that Alderman Barr had raised the issue of a review into electoral services with the Policy Chairman and, separately, the Head of Electoral Services, and further formal meetings would follow.

 

The Committee expressed their thanks to Alderman Barr for undertaking this work during a busy period, including the aldermanic elections.

 

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

13.

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

 

 

 

 

 

 

                                                           

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

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 13.

14.

Non-Public Minutes of the previous meeting

To agree the non-public minutes of the previous meeting held on 24 May 2022.

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

Minutes:

The non-public minutes of the meeting held on 24 May were approved as a correct record.

 

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

15.

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

Minutes:

There were no questions in the non-public session.

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

16.

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

Minutes:

There was no non-public urgent business.

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