Issue - meetings

To note the report by the Internal Audit Manager.

The Corporate Risk Register identifies strategic risks faced in achieving corporate objectives and how these are managed, monitored and reported.

The Committee were informed that work on the development of risk management continued with training planned for mid-September 2021.  There had also recently been member training on the subject. A risk appetite statement was being developed and members would be informed as work progressed. 

The Internal Audit Manager advised that risks continued to be influenced by external factors. 

There were currently three risk categories with a red rating:

·         Economy – it was acknowledged that there were many factors beyond the Council’s control and dependent on national policy decisions.  There were some initiatives underway to support the local economy and a dedicated Committee had been set up to consider and monitor economic development matters, including the recovery plan.  The Committee asked if the risks could be broken down into lower levels that the Council could influence and improve.  It was suggested that the Economic Development team was asked to provide key indicators for economic development in a simple, imaginative format.

·         Housing – development and targets.  As a result of comments made by the Audit Committee previously, the risk categories for Housing had been refined with one area focusing on development and targets, and another on affordable housing specifically.

Development and targets had been rated red due to the pandemic and the adverse impact of the Staines moratorium.  There was also perceived to be a significant threat to the Council if development targets and the Local Plan were not delivered on time.

·         Sustainability and climate change.  Whilst steps were underway to address this subject, it was rated as a red risk as further action was required to establish a co-ordinated strategy for tackling climate change. 

The Committee again commented on the external factors that were beyond the Council’s control and the need to differentiate between external and internal factors to identify what we can do to mitigate those issues that were within the Council’s control. This would help to measure the success of those actions taken.

The Committee noted that there were currently nearly 3,000 on the Housing Register and requested that this was broken into categories so that the success of actions taken could be measured.  The Chief Finance Officer advised that the development of the West Wing and Harper House by the Council would increase the affordable housing supply and demonstrated steps being taken to mitigate risk.

The Committee resolved to note the report.