The Audit Committee of Hyndburn Council convened on Monday, 24 June 2024, to discuss several significant matters, including the Annual Audit Report 2023-24, risk management, and the appointment of independent members to the committee. Key decisions were made regarding the approval of the audit report and the appointment process for new members.

Annual Audit Report 2023-24

The committee reviewed and approved the Annual Audit Report 2023-24. The report, which includes an appendix, highlighted the council's financial performance and compliance with statutory requirements. Councillors discussed the findings in detail, noting improvements in financial management and areas needing further attention. One councillor remarked, The audit report reflects our commitment to transparency and accountability, while another stressed the importance of addressing the identified issues promptly.

Risk Management

The committee examined the Risk Management to Audit - June 2024 report. This document outlined the current risks facing the council and the measures in place to mitigate them. Key risks discussed included financial uncertainties, cybersecurity threats, and operational challenges. The committee agreed on the necessity of updating the risk management framework to better address these evolving risks.

Appointment of Independent Members

A significant portion of the meeting was dedicated to the Appointment of Independent Members to Audit Committee 2024. The committee discussed the criteria and process for appointing new independent members, emphasising the need for candidates with strong financial and auditing backgrounds. The decision was made to proceed with the recruitment process, aiming to enhance the committee's expertise and impartiality.

Progress Reporting

The Progress Reporting Apr24-May24 document was reviewed, providing updates on various ongoing projects and initiatives. The committee noted satisfactory progress in most areas but identified a few projects that required additional oversight to stay on track.

Follow-up Report

The Follow up report - April 24 - June 24 was also discussed. This report tracked the implementation of recommendations from previous audits and reviews. The committee expressed satisfaction with the progress made but urged departments to expedite the completion of pending actions.

Update on Statement of Accounts

Lastly, the committee received an Update on Statement of Accounts. The update provided an overview of the current status of the council's financial statements, highlighting key areas of focus and any outstanding issues. The committee acknowledged the efforts of the finance team in preparing the accounts and stressed the importance of timely completion.