MINUTES OF A MEETING OF THE AUDIT COMMITTEE HELD ON ...

a first point of contact to ensure appropriate use of the policy. An amendment was required
to ensure consistency of contacts within the policy.
The Committee resolved:
to recommend the Whistleblowing Policy to the Corporation, subject to the
amendments noted above.
15. COMMITTEE ANNUAL SELF ASSESSMENT
The Committee considered the self-assessment circulated prior to the meeting. Members
discussed the evidence provided in the report and noted that although value for money
remained satisfactory additional reports had been received by the Committee in year, it was
noted that the KPI’s in Framework for Excellence would help quantify this for the
Committee. Risk management was graded good due to the cancellation of the September
2007 meeting which resulted in the Committee being unable to perform their role in
overseeing the annual risk management review. Although the Committee accepted the risk
management framework overall remained outstanding, members considered their duties in
this process were not fully carried out. Members considered the Committee now had a high
level of expertise. Members agreed their performance against the predetermined criteria
as:
• Effectiveness good
• Risk management good
• Value for money satisfactory
• Decision making outstanding
16. CONFIDENTIALITY OF BUSINESS
No items were considered confidential.
17. DATE OF NEXT MEETING
The next scheduled meeting was 26 November 2007.
Members had received for information the KPMG benchmarking data on college’s financial
performance for 2007/08 - it was noted this was for KPMG clients only.
The Chair closed the meeting at 10.00am.
SIGNED: ___________________________________________________ ______
DATE: _______________________________________________________ _
_____________________________________________________________________________________________________ __
Page 5 of 5
Created by Claire Kay