Issue - meetings

Internal Audit Management Report - 4th Quarter 2008/09

Meeting: 18/03/2009 - Audit and Governance Committee (Item 49)

49 Internal Audit Management Report - 4th Quarter 2008/09 pdf icon PDF 88 KB

To receive and consider report 173/08 of the Audit Manager. 


The Committee received and considered report 173/08 of the Audit Manager, which looked at the management issues of Internal Audit, and summarised progress against the Internal Audit Plan for 2008/09 to 9 March 2009.  The report went on to summarise the priorities and planned work for the remainder of the audit plan. 


The Audit Manager reported that she was pleased with the performance of Internal Audit since the last meeting.  The performance figures for the fourth quarter showed a positive trend towards reaching the annual targets and the consistency and quality of the work was improving.  A significant effort had been made to reduce the non-chargeable work and there had been a reduction in the number of lost days.  Members congratulated Internal Audit staff for this high performance achievement. 


In answer to a question from a Member, it was reported that the Treasury Management audit, which had received a satisfactory assurance rating, had taken place earlier in the 2008/09 financial year, before the collapse of the Icelandic bank where the Council had held a £1m investment.  It was still unknown whether the Council would be repaid all or some of this investment. 




that the report be noted.