This report provides an update on progress by the Finance division to Internal Audit’s findings and recommendations in their Annual Assurance Report.

Further to Minutes 2 and 3 above, the Assistant Director of Finance, Peter Robinson, presented a report providing an update on progress by the Finance division to respond to Internal Audit’s findings and recommendations in their Annual Assurance Report.  The Internal Audit and Investigations Annual Assurance Report had delivered Limited Assurance Reviews in relation to four areas; Accounts Receivable, Accounts Payable, VAT and Bank & Control Account Reconciliations.  The Annual Assurance Report had been thoroughly reviewed and actions to address all the audit findings and areas for improvement identified had been included in the Finance Improvement Programme, which was scheduled to be concluded by 30 September 2020.  The action that the Finance Department had put in motion to address the findings of the Internal Audit and Investigations Annual Assurance Report were summarised in Section 3 of the report.

Resolved:    

(1)           That the importance placed by the Finance department upon the findings of the Internal Audit and Investigations Annual Assurance Report, be noted;

(2)           That the actions that the Finance department had put in motion to address the findings of the Internal Audit and Investigations Annual Assurance Report, be noted;

(3)      That a report on the Financial Improvement Programme be submitted to the next meeting to provide assurance that appropriate action was being taken to address all audit findings and areas for improvement identified within the Finance Department.