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

Page 185.1 The recommendations of this report are for noting only and do not give riseto an additional capital or revenue financial implication.5.2 As this is an update report on the ALMO’s internal audit processes there isno direct financial implication arising for LBL. Any costs associated with thecontent of this report is limited to and accounted for by Lambeth Living.6.0 Legal and Democracy6.1 Regulation 4 of the Accounts and Audit (England) Regulations 2011provides that the Council:(a)(b)Is responsible for ensuring that its financial management is adequateand effective and that it has a sound system of internal control whichfacilitates the effective exercise of the Council’s functions and whichincludes arrangements for the management of risk; andShall conduct a review at least once a year of the effectiveness of itssystem of internal control and shall publish with its statement ofaccounts a statement of internal control, nprepared in accordancewith proper practices.6.2 There are no additional comments from a Democratic Services perspective.7.0 Consultation and Co-operation7.1 Not applicable8.0 Risk Management8.1 Failure to complete the agreed work plans and ensure that the headlineissues and open recommendations are addressed may impact adverselyon the Council’s governance, risk and control processes.9.0 Equalities Impact Assessment9.1 Not applicable10.0 Community Safety10.1 None11.0 Organisational Implication11.1 Not applicable12.0 Timetable for implementation12.1 None