Agenda and minutes

Audit Committee
Wednesday 10th February 2021 2.00 pm

Venue: Remote

Contact: David Acton  Democratic Services

Items
No. Item

9.

Apologies

Minutes:

There were no apologies for absence.

10.

Declarations of Interest

To receive declarations of interest from Members

Minutes:

There were no declarations of interest from Members.

11.

Questions and Deputations

To answer questions, if any, asked by any resident of the Borough pursuant to Standing Orders.

Minutes:

No questions or deputations submitted.

12.

Minutes pdf icon PDF 192 KB

To receive the minutes of the previous meeting.

Minutes:

The minutes of the meeting held on 5 January 2021 were confirmed as a true record.

13.

Verbal Update from the External Auditor

To receive a verbal report from the External Auditor

Minutes:

The External Auditor advised:-

·  That the Annual Audit Letter had been completed;

·  on progress of the pooling of Housing Capital Receipts;

·  that initial planning for 2020/21 had begun and that audits could be conducted remotely benefitting from improved means of technology.

14.

Annual Governance Statement Preparation for 2020/21 pdf icon PDF 166 KB

To advise Audit Committee about the preparations for the production of the Council’s Annual Governance Statement (AGS) for 2020/21.


Additional documents:

Minutes:

The Audit Manager reported the preparations for the production of the Council’s Annual Governance Statement for 2020/21. The officer took Members through the proposed timetable, highlighting key dates, and the proposed assurance gathering process.

RESOLVED

The Committee:-

·  Noted the proposed timetable for production of the Annual Governance Statement 2020/21;

·  Endorsed the proposed assurance gathering process; and

·  Confirmed that the process will provide the assurance needed to effectively review and challenge the Annual Governance Statement when presented in June 2021.

 

15.

2020/21 Quarter 3 Treasury Management Monitoring Report pdf icon PDF 181 KB

To provide a monitoring report on the 2020/21 Treasury Management activities for quarter 3.

Additional documents:

Minutes:

The Treasury and Corporate Accountant updated Members on the Quarter 3 Treasury Management activities. He explained how the Council was maintaining an under borrowing position in order to minimise investment risk, and how internal borrowing had proved an effective strategy in delivering a number of savings to the Council over a number of years. The Officer also explained the current prudential and treasury indicators and confirmed that no amendments were proposed to the Treasury Management Strategy.

RESOLVED

The Committee noted the Treasury Management activities for quarter 3 of 2020/21.

16.

The Annual Audit Letter for Solihull Metropolitan Borough Council pdf icon PDF 398 KB

Our Annual Audit Letter (Letter) summarises the key findings arising from the work that we have carried out at Solihull Metropolitan Borough Council (the Council) and its subsidiaries (the group) for the year ended 31 March 2020.

Minutes:

The External Auditor explained that the Annual Audit Letter summarised the key findings arising from work undertaken at Solihull Metropolitan Borough Council and its subsidiaries for the year ended 31 March 2020. He explained that working remotely had presented a number of challenges for auditors and officers but, although taken longer than initially planned, they had managed to give audit opinion before the publication deadline.

RESOLVED

The Committee noted the Annual Audit Letter.

17.

EXCLUSION OF THE PRESS AND PUBLIC

That pursuance of section 100A(4) of the Local Government Act 1972, the press and public be now excluded from the remainder of the business to be transacted, on the grounds that there would be disclosure to them of exempt information in terms of Schedule 12A to the said Act.

Minutes:

The Chairman did move that the press and public be now excluded from the remainder of the business to be transacted, on the grounds that there would be disclosure to them of exempt information as defined in Schedule 12A to the Local Government Act 1972.

18.

Grant Thornton- Information Technology Audit Report

To support its opinion on the financial statements of Solihull Metropolitan Borough Council (SMBC), Grant Thornton has completed the design effectiveness of the IT General Controls (ITGC) within the IT environment, as they affect the financial statements for year-ended 31st March 2020. During the IT Audit visit, we also completed an Oracle authorisation and security design review to help provide assurance over Oracle controls for the financial statements.

19.

Update on Grant Thornton ICT Audit 2020

To provide an update to Audit Committee regarding actions taken to address the risks identified in the Grant Thornton SMBC IT Audit Report 2020 in relation to the Oracle ebusiness suite.