Report of the Head of Audit & Risk Management.
The Committee received a report of the Head of Audit and Risk Management presenting an update on Internal Audit activity related to the Barbican Centre.
Since January 2021, work had been completed on three audits comprising security, facilities management and maintenance and the ticketing system. These audits had concluded there was moderate assurance in respect of the areas considered. A Member queried how a “moderate” rating compared with other audits undertaken by the City of London Corporation and the Head of Audit and Risk Management confirmed that as internal audit activity tended to be focused on areas of high risk, moderate assurance was a common outcome. A number of amber and green recommendations had been made in relation to each of the three audits to build further assurance and these were in the process of being implemented. No red-rated risks had been identified in respect of the three audits. Another Member was pleased to note that audits on fire safety, retail – online shop and branded merchandise, ticketing – re-issue, re-sale and refund (spot-check) and Spektrix – revisited were planned for the 2021/22 financial year.