Finance & Audit Sub-Committee

Tuesday 13 March 2001 at 3.10 pm

Present:  Councillors Calvert, Jackson, O’Rourke and Rebecchi.

Chair:  Councillor Jackson presided. 

In attendance:  Chief Executive, Depute Chief Executive, Mrs R McGhee (for Director of Legal & Support Services), Head of Accountancy Services and Chief Internal Auditor. 

Attending also:  Ms Shona Malcolm and Mr Andrew Munro, Messrs Pricewaterhouse Coopers, External Auditors.

Apologies:  Councillors McCabe, Mitchell and Robertson (Y).

253

Bank Reconciliations

253

There was submitted a report dated 23 February 2001 by the Head of Accountancy Services on progress against the Reconciliation Action Plan as at 22 February 2001 as requested by the Sub-Committee at the meeting held on 30 January 2001 (para 118).

Decided:  that the Sub-Committee note the much improved position in respect of Bank Reconciliations.

254

Control Accounts Update

254

There was submitted a report dated 23 February 2001 by the Head of Accountancy Services (1) outlining Officers’ responsibility for Control Accounts and (2) advising of the position of the Control Accounts as at 23 February 2001 with particular reference to the Creditors Control Account, Council Tax System v Ledger Reconciliation and Housing Control Accounts as requested by the Sub-Committee at the meeting held on 30 January 2001 (para 119).

Decided:

(1)  that a further report on progress in respect of the Creditors Control Account, Council Tax System v Ledger Reconciliation and Housing Rent/Benefit Control Accounts be presented to the next meeting of the Sub-Committee; and

(2)  that the Sub-Committee note the progress made.

255

Internal Audit

255

There was submitted a report dated 27 February 2001 by the Chief Executive on options for the effective delivery of Internal Audit services together with submission dated 5 March 2001 from UNISON.

Decided:

(1)  that the Sub-Committee approve the engagement of external assistance as required to prepare a specification for Internal Audit services with the cost of this service being met from the overall Finance Services Budget; and

(2)  that the detailed specification be reported back to the Sub-Committee together with comments from employees and Trade Unions for formal consideration before the invitation of tenders to allow the current/proposed Internal Audit services to be compared with what is available on the market.

256

Inverclyde Council - Strategic and Annual Audit Plans 2001-2005

256

There was submitted a report by the Chief Internal Auditor (1) detailing the work which Internal Audit intended to perform during the financial year 2001-2002 and (2) presenting a summary of work required during the period 2001-2005.

Decided:  that this item be continued to the next meeting of the Sub-Committee to afford Members the opportunity to consider the report in detail.

257

External Audit - Client Service Plan

257

There was submitted Client Service Plan 2000/2001 dated 5 March 2001 by Messrs Pricewaterhouse Coopers, External Auditors, detailing their responsibilities as the Council’s External Auditors and how it was planned to discharge these in accordance with Audit Scotland’s Code of Audit Practice under the headings Accounts, Governance and Performance, together with an audit timetable and audit budget.

Decided:  that the Client Service Plan 2000/2001 be noted.