Agenda item

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

Members received the Outstanding Actions List.

Officers provided updates on the Outstanding Actions:

• Item 9 – the Chief Strategy Officer had reported on the concerns about financial risks wider than inflation to the Chief Officer Risk Management Group meeting on 7 September. The Group discussed it as part of the corporate risks overall, and chief officers undertook to keep in mind the Audit and Risk Management Committee’s concerns. She requested that the item now be closed.
• Item 12 - further to the Internal Audit review conducted, the recommended protocol between the City of London Corporation, GLA and Museum of London had not been developed. The Head of Internal Audit was aware that discussions on this were currently ongoing, but felt that a risk remained that the arrangement was not as formalised as it could be. A Member said that the extent of the cash-flow financing and the precise terms should be better spelled out. The Chamberlain informed Members that she had been in correspondence with the Museum of London to clarify the payment schedule for the monies owed to the project by the GLA and the Museum’s fundraising.
• Item 15 – the Head of Internal Audit expected to include the methodologies and resources of the Anti-Fraud team in a future update report to the Committee