Agenda and minutes

Audit Committee - Monday 26th September, 2022 2.00 pm

Venue: Council Chamber, Allerdale House. View directions

Contact: Democratic Services  01900 516809

No. Item


Minutes pdf icon PDF 113 KB

To sign as a correct record the minutes of the meeting held on 25 July 2022.



Councillor M Heaslip highlighted that his attendance had not been recorded on the minutes of the previous meeting as a substitute for councillor Lynch.


The minutes of the meeting held on 25 July 2022 were signed as a correct record subject to the above amendment.



Declaration of Interests

Councillors/Staff to give notice of any disclosable pecuniary interest, other registrable interest or any other interest and the nature of that interest relating to any item on the agenda in accordance with the adopted Code of Conduct.


None declared.




To answer questions from members of the public – submitted in writing or by electronic mail no later than 5.00pm on a working day, allowing two clear working days before the day of the meeting.


None received.



Treasury Management Annual Review 2021/22 pdf icon PDF 1 MB


The Senior Manager - Finance presented the report which informed members of the performance of the Councils Treasury Management activities during 2021/22, including the effects of Treasury Management decisions and transactions executed in the past year and of the compliance with its Treasury management Policy.


The report summarised the following:

·  Economic background

·  Overall treasury position at 31 March 2022

·  Borrowing requirement

·  PWLB borrowing rates

·  Borrowing strategy 2021/22

·  Borrowing activity during 2021/22

·  Investment rates

·  Investment Strategy for 2021/22

·  Investment outturn for 2021/22

·  Prudential and Treasury Indicators


The Senior Manager – Finance then answered questions from members in relation to the contents of the report.




Members noted the contents of the report.



Internal Audit Progress Report 2022-23 pdf icon PDF 308 KB

Additional documents:


The Strategic Advisor – Assurance, Risk and Audit submitted a report which sought to inform the Committee of the work performed by the Assurance, Risk and Audit team between July and September 2022.


One audit review had been finalised since the last progress report, undertaken by external contractors, in relation to Mobile Working. All recommendations from the review had been accepted by management and processes were being put in place.


Following a successful recruitment exercise all vacancies had been filled and the team was now fully staffed.

Work on planned audits from a slightly updated 2022/23 Audit Plan was now underway.


Members asked questions around the impact of Local Government Reorganisation on the work of the Audit Committee and Team and how it would feed in to the new Cumberland authority.


Councillor A Tyson moved the recommendations in the report; this was seconded by Councillor M Campbell-Savours. The motion was approved.




That –


1.  Progress against the 2022/23 audit report be noted;

2.  The proposed KPI’s be accepted.


Councillor R Munby left the meeting


Internal Audit Self Assessment 2021.22 pdf icon PDF 297 KB

Additional documents:


The Strategic Advisor – Assurance, Risk and Audit submitted a report to inform the Committee of the results of the self-assessment against the Public Sector Internal Audit Standards (PSIAS).


The Strategic Advisor – Assurance, Risk and Audit (The Chief Audit Executive) had performed an annual self-assessment against the standards using a CIPFA checklist. The assessment indicated compliance with the standards and included improvement points and enhancements which would be implemented during 2022/23.


Members noted the report.




That the report be noted.



Audit Progress Report and Sector Update pdf icon PDF 3 MB


Richard Anderson of Grant Thornton UK LLP, external auditors, presented the audit progress report and sector update to the Committee.


The committee was advised that the deadline for publishing audited local authority accounts for 2021/22 had been extended to 30 November 2022.

GT planned to report their work in the Audit Findings Report and opinion on the Statement of Accounts by 30 November.


GT anticipated issuing their Auditors Annual Report in January 2023. This year they were carrying out an overarching review on Local Government Reorganisation some comments from which would be included in the January report.


Members noted the report.




Members noted the content of the report.