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Audit 09.09.07w

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MINUTES OF THE AUDIT COMMITTEE MEETING HELD ON MONDAY 7 SEPTEMBER 2009 PRESENT: Mr Steve Wolski (Chair), Mr Alan Cotton, Mr John Whittaker. IN ATTENDANCE: Mrs Jane McCann (Director of Finance), Mr Greg Wilson (PwC), Miss Sarah Jewett (PwC), Mr Trevor Rees (KPMG), Jean Tracy (Clerk). 1. APOLOGIES Apologies were received from Mr Mohamed Isap, Mrs Emma Casson (KPMG) and Miss Helen Knowles (KPMG). 2. MINUTES OF THE LAST MEETING The minutes of the meeting held on 11 June 2009 were accepted as a true and correct record and were duly signed by the Chair. 3. MATTERS ARISING The KPMG audit report on Governance had been considered by the Chair, Principal and Clerk and responses to the comments raised had been made. The document is in the process of being shared with College management before being presented to the members of the Board and a number of actions have already been completed or are in the process of being actioned. The College responses and information on progress to date will be brought to the next meeting of the Audit Committee. Action: Clerk The College informed the meeting that the new Health & Safety Manager had been appointed and was undertaking work to ensure that a central register of risk assessments was in place and complete. There were no other matters arising not covered elsewhere in the agenda. Audit 09.09.07w.doc Page 1 of 6 4. INTERNAL AUDIT REPORTS: Mr Trevor Rees ...

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Audit 09.09.07w.doc

Page 1 of 6

MINUTES OF THE AUDIT COMMITTEE MEETING

HELD ON MONDAY 7 SEPTEMBER 2009

PRESENT:

Mr Steve Wolski (Chair), Mr Alan Cotton, Mr John Whittaker.

IN ATTENDANCE:

Mrs Jane McCann (Director of Finance), Mr Greg Wilson

(PwC), Miss Sarah Jewett (PwC), Mr Trevor Rees (KPMG), Jean Tracy

(Clerk).

APOLOGIES

Apologies were received from Mr Mohamed Isap, Mrs Emma Casson (KPMG)

and Miss Helen Knowles (KPMG).

MINUTES OF THE LAST MEETING

The minutes of the meeting held on 11 June 2009 were accepted as a true

and correct record and were duly signed by the Chair.

MATTERS ARISING

The KPMG audit report on Governance had been considered by the Chair,

Principal and Clerk and responses to the comments raised had been made.

The document is in the process of being shared with College management

before being presented to the members of the Board and a number of actions

have already been completed or are in the process of being actioned.

The

College responses and information on progress to date will be brought to the

next meeting of the Audit Committee.

Action:

Clerk

The College informed the meeting that the new Health & Safety Manager had

been appointed and was undertaking work to ensure that a central register of

risk assessments was in place and complete.

There were no other matters arising not covered elsewhere in the agenda.

Audit 09.09.07w.doc

Page 2 of 6

INTERNAL AUDIT REPORTS:

Mr Trevor Rees presented the reports, which included information to the

Committee on the purpose of the reviews as well as the outcome.

(i)

IT Security Review 2008/09

The overall grading for the IT Security Review was ‘satisfactory’ and 2

medium and 2 low recommendations had been made.

The Committee noted that the College had accepted in full the

recommendation made to minimise the reliance on one key member of staff to

restore data in the event of disaster.

The Committee considered the recommendations made by the auditors in

relation to generic super user accounts and the College management’s

response.

It noted the reasons why the College had not agreed to the

recommendation and the actions to be taken to document existing

procedures.

The auditors informed the Committee that they were content with

the College response and agreed that the table on page 2 of the report would

be amended to reflect KPMG’s acceptance to the College’s responses.

Action:

KPMG

The Committee also noted the two low priority recommendations and the

College responses, including the reasons why the College was not proposing

to change the operation of student passwords.

In addition to the key findings as above, the auditors had identified 5 areas of

good practice.

(ii)

Franchise Provision - Unannounced Spot Checks

2008/09

The overall grading for this audit was ‘good’ and no recommendations were

made by the auditors.

(iii)

Internal Audit Annual Report 2008/09

The annual report covered the planned coverage and output, implementation

of recommendations, performance of the internal audit service, operational

assurance, overall assurance and opinion.

Based on the reviews undertaken

during 2008/09, the auditor’s opinion was that the College had satisfactory

arrangements in order to provide assurance to the Board over the

effectiveness and adequacy of the risk management, internal control and

governance arrangements.

The auditors informed the Committee that

‘satisfactory’ was the highest grading and that this was an unqualified opinion.

The report stated that management responses to reports issued in the year

had been positive and had provided timely implementation dates.

Of the ten

review opinions, six were ‘good’ and four ‘satisfactory’ and indicated a strong

return.

In total 22 recommendations had been made:

none were high priority;

6 medium and 16 low.

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The report indicated that there had been a good level of follow up of previous

recommendations and the Committee noted that the auditors would monitor

the progress of those recommendations which were still in progress.

After discussion, the Audit Committee AGREED to recommend the Internal

Audit Annual Report 2008/09 to the Board for formal approval at its meeting in

October 2009.

INTERNAL AUDIT STRATEGY & ANNUAL PLAN 2009/10

The Committee considered the report which covered the strategy, annual plan

2009/10, key elements of the annual plan for 2009/10 and the audit process.

The detailed scope of the proposed reviews will be agreed in discussion with

managers.

The Committee was informed that the annual plan in Appendix 3

did not include Personnel and that a revised report would be issued by

KMPG.

Action:

KPMG

A member of the Audit Committee asked whether the College was happy that

the annual plan reflected the risk register.

Rachel Curry replied that the audit

days for learner numbers and franchising had been increased from 6 to 7 to

cover the entirety of the student number work and that the College had

requested that HE be included. The Director of Human Resources would be

retiring in December 2009 and it was therefore appropriate that personnel be

covered in the 2009/10 plan.

The College assured the Committee that the

plan reflected the risk register.

The College was also asked whether the pay system was sufficiently

monitored to ensure that there would be no issues relating to equal pay.

was informed that the Director of Human Resources had recently undertaken

a detailed analysis and that a report had been presented to Policy &

Resources Committee.

KPMG suggested that job evaluations/modernising

pay could be picked up in the audit of personnel.

Having considered the Internal Audit Strategy and Annual Plan 2009/10, the

Committee AGREED that it should be recommended to the Board for formal

approval at its meeting in October 2009.

EXTERNAL AUDIT UPDATE

The Committee was informed that Greg Wilson and Jane McCann had

already met to look at the key issues for the audit and that there was nothing

to intimate significant changes.

The financial statements audit would take

place in October 2009.

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RISK MANAGEMENT UPDATE

The report provided the Committee with information on the swine flu

contingency plan, the HEFCE data and audits and the key risks identified to

the LSC in the budget submission.

The risk register was included in the

report.

The Committee noted that HEFCE audit regimes were to be tightened and

asked what monitoring was currently in place of the student enrolments and

retention.

It was pleased to note that weekly reports on enrolments and

monthly retention reports were already in place.

It also noted that the same

controls applied to HE and FE funded learners.

MASTER PLAN UPDATE

(i)

The Committee considered the report which covered the current position and

plans for the future.

(ii)

(ii) HE

The build had been completed 6 weeks ahead of the programmed completion

date and had been delivered within budget with a net contingency of £54,500.

The opening was taking place on Friday 11

September and a number of

events had been planned to maximise publicity for the new University Centre.

The Committee commented on the possible claw back of funds should the

NWDA be unhappy with the BREEAM rating and asked what level this could

be.

The College replied that it had not received an indication of the amount

but that any claw back would be covered by the funds which had not yet been

claimed.

The Committee commented that as it had always been clear that the

site of the building on Barbara Castle Way would make it impossible to

achieve an ‘excellent’ rating, it would expect the College to challenge any

proposed claw back.

FINANCIAL MANAGEMENT CONTROL & EVALUATION 2008/09

The Committee considered the FMCE and noted the Principal’s endorsement

of the report and the self assessment grades contained in it.

The Committee

AGREED to recommend the report to the Corporation Board for formal

approval.

The report would then be sent to the LSC in accordance with the

deadline for submission of 30

November 2009.

10. REGULARITY AUDIT SELF ASSESSMENT QUESTIONNAIRE 2008/09

Audit 09.09.07w.doc

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The Committee noted the report and asked whether the £10,000 figure above

which formal quotations are required were still reasonable.

This will be

considered by the College as part of the review of the Financial Regulations.

Action:

JMcC

Having considered the completed questionnaire, the Committee noted that

this would now be signed by the Principal and forwarded to PwC as part of the

financial statements audit process.

11. REVIEW OF/PROGRESS AGAINST TERMS OF REFERENCE

The Committee considered the existing terms of reference, its progress

against these and whether its requirements under the terms of reference had

been met.

The Committee did not wish to make any recommendations for amendment to

its terms of reference and AGREED that the report on its progress against

these was accurate and should be presented to the Board as part of its

annual self-assessment process.

12. AUDIT ACTION POINT STATUS REPORT

The Committee noted the content of the report and the current status of the

agreed actions.

In particular, it noted the significant training which had taken

place for cross-college staff undertaking Train to Gain systems and

processes.

13. AUDIT SCHEDULE 2009/10 UPDATE

The Committee noted the schedule to date for 2009/10.

14. AUDIT COMMITTEE CALENDAR OF BUSINESS 2009/10

The Committee noted and approved the calendar of business 2009/10.

The

Clerk informed the Committee that this would be updated throughout the year

as necessary.

15. ANY OTHER BUSINESS

There were no items of any other business.

16. DATE OF NEXT MEETING

The next meeting of the Audit Committee will take place on Tuesday 1

December 2009 at 5.30pm in FM13.

Audit 09.09.07w.doc

Page 6 of 6

Signature: …………………………………………………

Date: ………………………………………………………

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