Present:
J. Bromiley (Chair), M. Curry, G. Edmunds and D. Hartis (independent member)
In Attendance:
S. Duncan, Principal and CEO
D. Everitt, Interim Vice Principal Finance and Business Planning
C. Tomlinson, Vice Principal Curriculum and Performance
H. McCoy, Assistant Principal Performance
S. Pritchard, (External Clerk)
C. Leece (RSM)
Apologises for Absence:
Apologies were received from R. Harrison and it was agreed that J Bromiley would act as chair of the meeting in his absence.
556 Conflicts of Interest
Members were invited to declare their interests in any items on the agenda for the meeting. No conflicts of interest were declared.
557 Minutes of meeting 16 November 2023
The minutes of the meeting held on 16 November 2023 were accepted as a true record.
558 Matters Arising
None
559 Internal Audit Reports:
Progress against Accounts Payable Report
The Interim Vice Principal Finance and Business Planning presented the report to the committee and provided an update on progress made against audit recommendations. The report is confidential for reasons of commercial sensitivity.
The Chair referred to Appendix B Action plan of the report and asked for an update on the outstanding recommendations.
It was confirmed that item 1.2 had been implemented during December.
Following discussion it was agreed that the Interim Vice Principal would provide a further update on items 1.3 and 1.6 in the action plan which were due to be completed this month.
The Committee noted the report.
560 External Audit
C Leece (RSM) and the Interim VP Finance and Business Planning presented the reports.
560 (a) Members Report and Financial Statements
The reports and minutes were confidential for reasons of commercial sensitivity as the documents contain current financial information.
The committee recommended the statutory accounts for approval to the Board, subject to the amendments required to provide a final version.
The Clerk requested for the key changes to be highlighted on the final set of accounts so the board can clearly identify the changes.
The committee recommended the letter of engagement for approval to the Board to be signed by the chair.
560 (b) Regulatory Self-Assessment Questionnaire
The Interim Vice Principal Finance and Business Planning presented the report and highlighted that the report had been populated with recommended responses to the various standard questions contained within the document.
It was noted there are additional points on the questionnaire this year due to the re-classification of colleges to the public sector.
C Leece (RSM) noted the self-assessment questionnaire has been seen by RSM as it is used by RSM to inform the regularity testing. RSM requires a signed copy of the questionnaire.
The Committee recommended the regulatory Self-Assessment Questionnaire to the Board.
561 College Leadership Group Reports
561 (a) Outcome of Audit Tender
The Interim Vice Principal Finance and Business Planning presented the Audit Tenders to the committee.
This report was confidential due to commercial sensitivities.
The committee noted the report.
561 (b) Progress Against Outstanding Audit Recommendations
The Vice Principal Curriculum and Performance presented the report on progress against outstanding audit recommendations to the committee which was confidential due to commercial sensitivities.
It was noted that the report was being presented to the committee in response to a request from the November meeting.
It was confirmed that all high-risk actions have been completed. There were 12 actions to complete, 8 were completed at the end of the last academic year and there are 4 remaining actions to complete of which 2 will be completed in December 23, one in March 24 and the last action in July 24.
The Committee noted the report.
562 Any Other Business
Staff members and auditors were asked to leave the meeting for a confidential discussion amongst committee members.