The Governance and Audit Committee of South Holland Council was scheduled to review the council's financial policies, audit plans, and risk management framework. Key discussions were expected to cover the external audit plan, accounting policies for the upcoming financial year, and the treasury management performance for the third quarter.

Indicative External Audit Plan and Strategy for the Year Ended 31 March 2026

The committee was scheduled to consider the Indicative External Audit Plan and Strategy for the year ending 31 March 2026, as presented by KPMG LLP. This plan outlines the approach and scope of the external audit for the financial year. It details significant risks identified, such as the valuation of land and buildings, management override of controls, and the valuation of post-retirement benefit obligations. The plan also addresses the auditor's responsibilities regarding going concern, fraud, and value for money arrangements.

Accounting Policies 2025/26

A review and agreement of the Accounting Policies for inclusion in the Financial Statements for 2025/26 was scheduled. These policies are the specific principles, bases, conventions, rules, and practices applied by the council in preparing and presenting its financial statements. A key change noted for the 2025/26 financial year relates to the valuation of property, plant, and equipment, where a five-year rolling programme for revaluations will be adopted, with annual indexation applied in the intervening years.

Q3 Treasury Report 2025/26

The committee was to receive an update on Treasury Management performance and activity for the third quarter of the 2025/26 financial year. This report provides an economic update, interest rate forecasts, and a review of the council's investment portfolio and borrowing strategy. It also covers compliance with treasury and prudential indicators. The report highlights that treasury investments achieved an average rate of 4.560% for the year to date, and the net treasury position showed a favourable variance of £800,897 at Quarter 3.

Quarter 3 Risk Report 2025/26

An update on the council's risk management as at the end of December 2025 was scheduled for discussion. This report details the strategic and operational risks facing the council, including those related to the implementation of the Environment Act 2021, waste collection round pressures, and the council's budget. The report indicates that while many risks are being managed at their target level, some, such as the implementation of the Environment Act 2021 and waste collection round pressures, are not yet at their target status and require further mitigation.

Regulation of Investigatory Powers Act (RIPA) 2000 – Annual Update

The committee was to be advised of any RIPA regulatory activity in the past 12 months and any necessary work to ensure compliance across the South and East Lincolnshire Councils Partnership. The report indicates that no RIPA-approved activity was undertaken by any of the three councils in the last year, and a nil return was submitted to the Investigatory Powers Commissioners Office (IPCO). A Partnership Body Worn Video Policy has been introduced, and plans are in place to develop a new Partnership CCTV Policy for non-public realm systems.

Internal Audit Annual Plan 2026/27

The committee was to consider and approve the annual plan of internal audit activity for 2026/27. This plan is developed based on risk assessments and aims to provide assurance over the council's risk management, control, and governance processes. Key areas for audit in the upcoming year include risk management training, payroll controls, waste management change management, and compliance with the Procurement Act.

Internal Audit Progress Report – March 2026

A summary of internal audit activity as at March 2026 was to be provided. The report indicates that 81.55% of the 2025/26 audit plan was completed, with the team adequately resourced. Several audit reviews were finalised, including those on the Identification and Monitoring of Savings, Risk Register Review, and ICT Cyber Security. The report also details overdue management actions, with a focus on ensuring these are addressed to mitigate residual risks.

Governance and Audit Committee Work Programme

The committee was scheduled to review its Work Programme for the upcoming year. This programme outlines the regular reports to be considered, such as those from Internal and External Audit, and identifies any ad hoc items. The work programme aims to ensure the committee's activities remain relevant and up-to-date. An appendix detailing training undertaken by committee members and suggested future topics was also to be reviewed.