To confirm as a correct record the Minutes of the meeting of the Audit Committee held on 18 January 2012 and adjourned meeting on 25 January 2012.

To consider a report which provides the Audit Committee with a

report on progress in delivering our responsibilities as your external

auditors.

Members noted the Audit Committee update from Sue Hicks of the Audit Commission.  The purpose of this update was to provide the Audit Committee with a report on progress in delivering their responsibilities as the council’s external auditors. The report also highlighted key emerging national issues and developments which may be of interest to Members of the Audit Committee.

Members were informed that the Audit Commission had introduced a new approach to value for money work in 2010/11. The VFM conclusion would now be based on two nationally specified criteria:-

(i)         the organisation has proper arrangements in place for securing financial resilience; and

(ii)        the organisation has proper arrangements for challenging how it secures economy, efficiency and effectiveness.

A review of the Council’s arrangements is currently being undertaken and the interim audit is currently on-going and there will be a report of findings back to the Audit Committee on 27 June 2012.

Members requested that the Executive Head, Finance, bring a short report to the next meeting outlining the key considerations listed in the update report.

To consider a report which sets out the work for the 2011/12 audit.  The plan is based on the Audit Commission’s risk-based approach to audit planning.

To consider a report on how local authorities claim large sums of public money in grants and subsidies from central government and other grant-paying bodies and are required to complete returns providing financial information to government departments.

To consider a report to inform members and the public of the actions resulting from a review of the Council’s Governance arrangements.  The resulting action plan will contribute to ensuring the Council’s governance arrangements are robust, is part of assurance and the production of the Annual Governance Statement.

Members considered a report on the Good Governance Review.  The Governance Support Manager informed the Committee that the Council had reviewed its governance arrangements following the first five months following the election in May 2011.

A survey was undertaken of all members and senior officers to gather feedback on the following areas:

1)    Roles and functions;

2)    Good governance through constructive relationships;

3)    Taking informed and transparent decisions; and

4)    Serving Torbay

Members were advised that the results had been presented at a governance workshop held in October 2011 attended by members and senior officers.  The workshop used the results of the survey to identify what needed to be changed or improved. 

Members requested that the Governance Support Manager circulate the Good Governance information Pack to the Committee.

Resolved:

That the Good Governance Review Autumn 2011 Action Plan be adopted and its progress monitored by Group Leaders via the Leadership Group.

To consider a report on the above.

Members considered a report on the internal Audit Plan 2012/13.  Officers advised Members that the Audit Plans were prepared for each of the client authorities using a risk based approach and priority assessment including consultation at both strategic and operational levels          

Rob Hutchins, Devon Audit Partnership, informed Members that the plan was based on the current organisational structure for the Authority and it was possible there would be new risks and changes as the year progressed, therefore plan needed to remain flexible.

Resolved:

That the Committee agreed in principle the proposed Audit Plan for 2012/2013.

To consider a report on the Future of Public Audit.

To consider an exempt report on the above.