Further to Minute 65 of the meeting held on the 3rd June, 2020, the Head of Internal Audit, Anti-Fraud and Assurance will submit the revised Internal Audit Plan 2020/21.
Minutes:
Further to Minute 65 of the meeting held on the 3rd June, 2020, the Head of Internal Audit and Corporate Anti-Fraud submitted a report on the finalised Internal Audit Plan for 2020/21.
The report, which was presented by Mrs S Bradley, Audit Manager indicated that the Plan had been revised following consultation with individual Departmental Management Teams to ensure that is was focussed on priority areas and was aligned to the Internal Audit resources available for the remainder of the financial year. The Plan also incorporated advisory and assurance work directly related to Covid 19.
The report outlined the Key aspects of the finalised Plan (as outlined within Paragraph 3.1 of the report) but it was noted that this could change during the year to reflect the allocation of resources from contingency and unplanned work, new priorities and pressures.
An Appendix to the report provided a summary of the planned work by Directorate and a second appendix provided an outline scope of each of the planned areas of work.
The report also provided information about available resources within the Internal Audit Service and how staff were proposed to be deployed.
RESOLVED:-
(i) That the finalised indicative Internal Audit Work Plan 2020/21 be approved acknowledging the need for the Head of Internal Audit and Corporate Anti-Fraud to exercise his professional judgement during the year to apply the Plan flexibly according to priority, risk and resources available; and
(ii) That the Committee receive quarterly monitoring reports from the Head of Internal Audit and Corporate Anti-Fraud to demonstrate progress against the Plan including information where the Plan has materially varied from the original Plan.
At the conclusion of the meeting the following issues were raised:
· The implications of the McCloud and Sargeant judgements in 2019/20 on pensions accounting had been addressed – information would be provided for the Member concerned
· Reference was made to the work of the Valuer in assessing the local market conditions and to the impact thereof. Reference was also made to the Post Balance Sheet Work being undertaken. The Director of Finance, having spoken to the Valuer, commented that it was anticipated that there would be no material impact on local valuations. The External Auditor commented that two significant risks relating to the Pension Fund Accounting and the Valuation of Fixed Assets had been identified in previous reports submitted. Reference to this would be included in the ISO 260 report
· In relation to the increase in the value of land and buildings, further information would be provided