Agenda item

Report of the Interim Chief Executive (Section 151 Officer)

The Audit and Procurement Committee considered a report of the Interim Chief Executive (Section 151 Officer), that provided the Committee with the outcome of the review of the Corporate Risk Register 2023-24, incorporating an overview of the Council’s corporate risk profile and the controls in place to address these risks.

The Audit and Procurement Committee’s Terms of Reference requires the Committee to monitor the effective development and operation of risk management within the Council.  The Council’s Risk Management Policy identifies that the Committee will receive an annual risk management report.

The Corporate Risk Register should identify the risks that threaten the successful implementation of the One Coventry Plan.  The report submitted provides the Committee with the outcome of the review of the Corporate Risk Register 2023-24

The Corporate Risk Register, set out at Appendix 1, had been reviewed in consultation with Strategic Leadership Team and the allocated Risk Owner.  It identified the main risks facing the Council, the impact of the risk, the inherent risk score before risk mitigation, the risk mitigations, the risk score after the mitigations are applied and where responsibility lies for the Council’s response. 

The report indicated that the Corporate Risk Register covers only those risks that were viewed as the most critical for the Council and which were considered at a corporate level.  Risk management activity continues throughout the Council dealing with those of a lower level.

The Committee noted that there had been some changes to the Corporate Risk Register and the report highlighted the risks that had been added to the Register, risks where there had been a significant change of focus, and risks where the residual risk score had changed.  It was further noted that there had been no risks removed from the Register since the last annual report was submitted to the Committee.

During discussions around specific risks, the Committee indicated that it was difficult to assess changes to risks and requested that an additional column be added for the next report indicating the risk score from the previous year.  In addition, the Committee highlighted a number of high profile issues which they thought required further consideration for inclusion on the Corporate Risk Register.  These included:

·  The effectiveness of public engagement – this was particularly relevant to the forthcoming local election and the new requirement for voters to have ID in order to be able to vote.

·  The City of Culture Trust and Legacy – in light of the Trust having recently gone into administration and the Council’s financial input, consideration should be given to financial and reputational risks to the Council.

·  Coventry Municipal Holdings – given the Council’s involvement with a number of businesses which it doesn’t entirely manage, the Committee felt there could be areas of risk for the Council.

RESOLVED that, the Audit and Procurement Committee:

1.  Note the content of the Corporate Risk Register, having satisfied themselves that corporate risks are being identified and managed.

2.  That consideration be given to the inclusion of the following items onto the Corporate Risk Register:

a.  Effectiveness of Public Engagement

b.  City of Culture Trust and Legacy

c.  Coventry Municipal Holdings.

3.  Request that for future reports, an additional column be provided in the Corporate Risk Register to identify the risk score from the previous year.