Audit And Risk Management Sub-committee - 22/01/2007

At a MEETING of the AUDIT AND RISK MANAGEMENT SUB-COMMITTEE OF THE FINANCE COMMITTEE held at Dundee on 22nd January, 2007.

Present:-

BAILIES

Charles D P FARQUHAR

Neil I C POWRIE

COUNCILLORS

George REGAN

Fraser MACPHERSON

Nigel DON

In Attendance:-

Pearl Tate, Senior Audit Manager, Audit Scotland

Councillor Fraser MACPHERSON, Convener, in the Chair.

Unless marked thus * all items stand delegated.

I INTERNAL AUDIT ANNUAL PLAN 2007-2008 AND UPDATE ON INTERNAL AUDIT PLAN 2006-2007

There was submitted Report No 72-2007 by the Chief Internal Auditor advising members of the Internal Audit Annual Plan for the 2007/08 financial year as detailed at Appendix A to the report and providing an update on the Internal Audit Annual Plan 2006/07.

The Sub-Committee noted the information within the report.

II INTERNAL AUDIT REPORTS

There was submitted Report No 73-2007 by the Chief Internal Auditor providing members with a summary of the Internal Audit Reports finalised since the last Sub-Committee.

The Sub-Committee noted the information contained within the report.

III INTERNAL BENCHMARKING OF INSURANCE LOSSES

There was submitted Report No 71-2007 by the Risk and Business Continuity Manager providing members with comparative loss figures for the financial years 2004/05, 2005/06 and 2006/07 to date.

The Sub-Committee agreed to:-

(i) note the data provided;

(ii) monitor the progress of the loss data presents; and

(iii) continue to support Risk Management activity to control self insured losses.

Fraser MACPHERSON, Convener.