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

Internal AuditReport 2014/2015Page 28FINALContents1. Executive summary 12. Background and scope 33. Detailed current year findings 4Appendix 1. Basis of our classifications 17Appendix 2. Terms of Reference 19Appendix 3. Limitations and responsibilities 22Distribution ListFor action:Patrick Pedder – Head of FinanceCandice Cupid – Finance ManagerSteve Davies – Head of Human Resources and Organisational DevelopmentShida Ashrafi – Head of Human Resources Operations, London Borough ofLambethFor information:Audit and Resources Committee membersTerry Gallagher – Chief ExecutiveThis report has been prepared by PwC in accordance with our engagement letter dated 6 August 2014.At the request of Lambeth Living Limited, PwC’s internal audit methodology has not been followed whenreviewing general ledger and bank reconciliations and therefore we may not have identified all findings thatwould have been raised in a full scope review using PwC’s methodology. This is further explained in Appendix 2of our report.Our work and deliverables are not designed or intended to comply with the International Auditing andAssurance Standards Board (IAASB), International Framework for Assurance Engagements (IFAE) andInternational Standard on Assurance Engagements (ISAE) 3000.Internal audit report forLambeth Living Limited PwC Contents