The Audit and Risk Management Panel of Greenwich Council is scheduled to convene on Tuesday, 21 July 2026. The meeting's agenda includes a review of the 2025/26 Audit Strategy Memorandum for both the authority and its Pension Fund, consideration of the draft Statement of Accounts for the same period, and an examination of the Treasury Management and Capital Outturn reports. Additionally, the panel will review the draft 2025/26 Annual Governance Statement and the Council's Strategic Risk Register.

Audit Strategy Memorandum 2025/26

The panel is scheduled to review the 2025/26 external Audit Strategy Memorandum for the Royal Borough of Greenwich and the Pension Fund. This memorandum, provided by external auditors Forvis Mazars LLP, outlines the planned scope and timing of the audits, as well as the significant risks identified. The report details forecast fees, work undertaken so far, and proposals for ongoing and future work. Forvis Mazars LLP, appointed as the external auditor in March 2024, will be undertaking their third consecutive year of audit for the council. The report is required by International Standard on Auditing (UK & Ireland) 260 to provide those charged with governance an overview of the planned scope and timing of the audits.

Draft Statement of Accounts 2025/26

Consideration will be given to the authority's draft Statement of Accounts for the year ended 31 March 2026, including the Pension Fund Accounts. These draft accounts have been compiled and submitted to Forvis Mazars for audit. The Statement of Accounts is prepared in accordance with International Financial Reporting Standards (IFRS) and the Code of Practice on Local Authority Accounting in the UK. The report details the Narrative Statement, core financial statements, and notes to the accounts, including the Housing Revenue Account and Pension Fund Account. The Accounts and Audit Regulations 2015 mandate the publication, public inspection, and audit of these accounts, with an inspection period for the 2025/26 accounts running from 6 July 2026 to 14 August 2026.

Treasury Management and Capital Outturn 2025-26

The panel is set to review the Treasury Management Outturn Report and the Capital Outturn Report for the 2025/26 financial year. The Treasury Management report summarises the council's treasury management activities, ensuring compliance with the Chartered Institute of Public Finance and Accountancy's (CIPFA) Treasury Management code. It highlights the council's borrowing position, strategy, debt rescheduling, investment rates, and compliance with treasury limits. The Capital Outturn report details the capital investment programme for 2025/26, outlining expenditure against forecast positions and providing details of major projects and significant variances. The report also includes a breakdown of capital financing by source, such as grants, capital receipts, revenue contributions, and borrowing.

Annual Governance Statement 2025/26

The panel will review the draft 2025/26 Annual Governance Statement (AGS). This statement is a requirement under the Accounts and Audit Regulations 2015 and provides an assessment of the effectiveness of the council's governance arrangements. It is based on a review of various sources of assurance, including internal audit reports, statutory officers' opinions, external auditors' findings, and feedback from other review agencies. The AGS aims to demonstrate accountability and transparency to stakeholders, outlining the council's governance framework, its support for strategic objectives, risk management, and value for money. The report indicates that while improvement actions have been identified, no significant governance issues that materially undermine the council's arrangements were found.

Royal Borough of Greenwich Strategic Risk Register

The council's Strategic Risk Register is scheduled for review. This register identifies key risks that could impact the council's plans and strategies, along with the controls and mitigating actions in place. The register is owned by the Greenwich Management Team (GMT), with each risk assigned to a designated Director. The GMT regularly scrutinises the register to ensure it accurately reflects current strategic risks and considers the reasonableness of risk evaluations, the effectiveness of internal controls, and progress on mitigating actions. No new or escalated risks have been identified for inclusion in the current review cycle. The register is supported by a Risk Dashboard and a Risk Profile heatmap, providing visual representations of risk assessments and control effectiveness.

The meeting will also address apologies for absence, any urgent business, and declarations of interest. The minutes of the previous meeting held on 24 June 2026 are also to be confirmed for accuracy. An action log will be received to track the status of outstanding actions.