Public reports pack Thursday 09-Jul-2015 19.00 Corporate Committee

Page 121.0 Context1.1 This report follows on from the March 2015 report, as requested byCorporate Committee.1.2 Lambeth Living’s Audit and Resource Committee (ARC) update includes asummary of its audit tracker and notes that the final ARC meeting will be on29 July 2015. This will be to approve and sign-off the accounts prior to thelast Lambeth Living Board meeting, ‘Lambeth Living CC Report - ALMOupdate 22.05.15’ see Appendix 1.1.3 As reported in March 2015 to Corporate Committee, the re-integration ofLambeth Living back into the Council is progressing satisfactorily andremains on target for 26 June 2015.2.0 Proposal and Reasons2.1 The following sets out Lambeth Living’s audit activities since the lastupdate report in March 2015.2.2 Lambeth Living have provided a summary of key Audit and ResourceCommittee activities to date in their update report attached as appendix 1.2.3 Lambeth Living’s Audit and Resource Committee continues to meetregularly each quarter. Their main purpose is to make sure agreedactions are implemented and report progress on openrecommendations from various audits carried out by internalauditors. There has been one quarterly meeting since the last reporton 16 April 2015. The final Audit and Resource Committee meetingis scheduled for 29 July 2015 prior to the last Lambeth Living Boardmeeting where the Board will approve and sign off the annualaccounts before standing down.3.0 Audit update3.1 Lambeth Living Commissioned Internal Audits3.1.1 The five main reviews reported in the March 2015 CorporateCommittee report are now complete. These reviews are listed in the PwCreport ‘Lambeth Living Internal Audit Progress Report – April 2015’ ,Appendix 2, which provides an overview of progress against the 2014/15Internal Audit Plan with the associated risk grading.The five reviews are listed below against the risk rating:‘high risk’ rating Key Finance Systems‘low risk’ rating