The Audit and Procurement Committee of Coventry Council met on Monday 24 June 2024 to discuss several key issues, including the approval of the Local Code of Corporate Governance for 2024/25, the Internal Audit Annual Report for 2023/24, and the consideration of a severance package. The committee approved the Local Code of Corporate Governance and the severance package after thorough discussions.

Local Code of Corporate Governance 2024/25

The committee reviewed and approved the Local Code of Corporate Governance for 2024/25. This document outlines the principles and standards by which the council operates to ensure accountability, transparency, and ethical governance. The code is aligned with the CIPFA/SOLACE framework, which provides best practice guidance for local authorities. Councillors discussed the importance of maintaining high standards of governance and the need for continuous improvement.

Internal Audit Annual Report 2023/24

The Internal Audit Annual Report for 2023/24 was presented, summarising the audit activities and findings over the past year. The report highlighted several areas where improvements were needed, but overall, it concluded that the council's internal controls were effective. The committee discussed specific audit findings, including issues related to financial management and compliance with council policies. The report's recommendations were accepted, and the committee emphasised the need for timely implementation of these recommendations.

Consideration of Approval of Severance Package

The committee considered and approved a severance package for a senior council employee. The details of the package were outlined in Item 12. The discussion focused on the financial implications and the necessity of the severance to facilitate organisational restructuring. Arguments for the package included the long-term savings and efficiency gains, while concerns were raised about the immediate cost. Ultimately, the committee decided that the benefits outweighed the costs.

Internal Audit External Quality Assessment

The Internal Audit External Quality Assessment Report was also discussed. This assessment, conducted by an external body, evaluated the effectiveness of the council's internal audit function. The report found that the internal audit service generally conforms to the required standards but identified areas for improvement. The committee agreed on the importance of addressing these areas to enhance the audit function's effectiveness.

Work Programme 2024/25

The committee reviewed the Work Programme for 2024/25, which outlines the planned audit and procurement activities for the upcoming year. The programme includes audits of key risk areas and major projects to ensure robust oversight and governance. Councillors discussed the prioritisation of audit activities and the need to allocate resources effectively to address the most critical areas.

Outstanding Issues

Finally, the committee reviewed the Outstanding Issues document, which tracks the progress of previously identified issues and recommendations. The committee noted the progress made in resolving several issues but highlighted the need for continued focus on outstanding actions to ensure they are addressed promptly.