The Audit and Standards Committee of Warwickshire County Council is scheduled to meet on Tuesday 25 November 2025 to discuss a range of topics including the council's financial statements, risk management framework, and audit reports. The committee will also review the proposed minimum revenue provision policy and the annual governance statement.

Here's a breakdown of the key items on the agenda:

External Auditor's Reports

The committee will review the Warwickshire County Council Audit Findings Report 2024/25, prepared by Grant Thornton, the external auditors. The Audit Findings Report (ISA 260) for Warwickshire County Council for the 31 March 2025, details the audit approach, findings, and any recommendations. The committee will also consider the Warwickshire Pension Fund Audit Findings Report 2024/25, and a draft letter of representation. Additionally, the committee will discuss the External Auditor's Annual Report 2024/25, which summarises the audit work completed and provides a commentary on the council's arrangements for securing value for money.

Financial Statements

The committee is scheduled to consider the Warwickshire County Council Statement of Accounts 2024/25 and recommend them for approval by the council. The statement of accounts includes a narrative statement by the Executive Director for Resources, the independent auditor's report, and the core financial statements. The Warwickshire Pension Fund Statement of Accounts 2024/25 will also be reviewed and recommended for council approval.

Strategic Risk Management Framework

The committee will discuss the updated Strategic Risk Management Framework, which sets out the council's approach to risk management, including its ambition and principles. The framework aims to support innovation and assist growth and equality across Warwickshire.

Annual Governance

The committee will consider the Annual Governance Report, which outlines the council's governance arrangements and the Annual Governance Statement 2024/25, which provides assurance on the effectiveness of the council's systems of internal control. The Annual Governance Statement 2024-25 - Final Version for Audit and Standards Committee Nov 2025, includes a governance improvement action plan for 2025/26.

Proposed Minimum Revenue Provision Policy

The committee will discuss and endorse the Proposed Minimum Revenue Provision Policy 2026/27. The minimum revenue provision (MRP) is the amount the council sets aside each year to repay its debt. The report pack states that:

Under current regulations, local authorities have flexibility in how they calculate MRP, providing the amount is 'prudent'.

The proposed changes to the policy are intended to ensure it remains robust enough to provide for future borrowing if required.

Internal Audit

The committee will receive an Internal Audit Update Report.