Issue - meetings

To receive a report from the Internal Audit Team Leader presenting the Committee with the updated Risk and Opportunity Management Strategy for approval.

The Committee had before it a report * from the Internal Audit Team Leader presenting it with the updated Risk & Opportunity Management Strategy for approval.

The contents of the report were outlined with reference to the following:

·         The biggest change to the Strategy related to the reporting criteria. In order that resources were concentrated on the risks most likely to jeopardise the Council’s priorities it was proposed that the risk tolerance and risk scoring matrix be changed so that only risks scoring 10 and above be reported.

·         Other minor changes to the Strategy chiefly related to job titles.

·         Policy Development Groups analysed the risks falling under their remits and reported back any concerns to the Cabinet. However, the Audit Committee had a more overarching role and should seek reassurance that risks were being managed for the Council as a whole.

RESOLVED that the updated Risk & Opportunity Management Strategy be approved.

(Proposed by the Chairman)

Note: * Report previously circulated; copy attached to the signed minutes.