New Anglia Local Enterprise Partnership
Audit and Risk Committee
Thursday 8th February 2024
9.30am to 11.30am
Via Teams meeting
Agenda
Committee Members
Nick Banks (Chair) Scrutton Bland
Geoff Dobson Independent member of A&R Committee
David Pomfret College of West Anglia
Cllr Andrew Mellen Mid Suffolk District Council
Holly Field Suffolk County Council
(Delegation of Authority for Accountable Body S151 Officer)
In Attendance
Rosanne Wijnberg New Anglia LEP
Melanie Richardson New Anglia LEP
Lisa Roll New Anglia LEP
Aaron Widdows Price Bailey
Daniel Jeffers Price Bailey
Stuart Morton Price Bailey
Matt Howard Price Bailey
Apologies
None
No. Item
1. Welcome & Introductions
2. Apologies
3. Declarations of Interest
4. Minutes from last meeting
Items for discussion
5. Update on LEP transition Verbal update
6. Review of Planning Report – presented by Price Bailey – Confidential For approval
7. Members’ Voluntary Liquidation proposal – Price Bailey - Confidential For approval
8.
Responsibilities of Audit and Risk Committee during LEP closure
• Planning Report and MVL proposal
• Terms of Reference
Paper
Verbal
9. Review of corporate risk register - Confidential Update
10. Local Assurance Framework monitoring Update
11. Meeting Schedule and Dates
Verbal
Discussion
12. Any Other Business
Date of next meeting: Provisionally xx
1
Public
New Anglia Audit and Risk Committee Minutes (Unconfirmed)
29th June 2023
Present:
Nick Banks (NB)
Independent Chair
Geoff Dobson (GD)
Independent Committee Member
Holly Field (HF)
Suffolk County Council
Cllr Andrew Mellen (AM)
Mid Suffolk District Council
In Attendance:
Rosanne Wijnberg (RW)
New Anglia LEP
Melanie Richardson (MR)
New Anglia LEP
Lisa Roll (LR)
New Anglia LEP
Aaron Widdows (AW)
Price Bailey – For item 5
Alice Boesen (AB)
Price Bailey – For item 5
Sam Slater (SS)
Price Bailey – For item 5
Apologies:
David Pomfret
College of West Anglia
Actions from the Meeting
LEP Audit
RW to review the wording around Going Concern and provide revised wording to Price Bailey.
AW to confirm wording around Going Concern within the audit opinion and undertake further work on
Post Balance Sheet Events with a view to sign off in September.
1
Welcome and Introductions
Nick Banks (NB) welcomed everyone to the meeting.
2
Apologies
Apologies were received from David Pomfret.
3
Declarations of Interest
Full declarations of interest can be found at https://newanglia.co.uk/our-board/
AM also a member at Suffolk County Council
4
Minutes from last meeting
The minutes were reviewed and agreed. One minor amendment to clarify that £250k core funding
relates to 2023/24.
5
Review Draft Annual Financial Statements incl. appendices – confidential
•
2
6
Risk Register - confidential
7
Local Assurance Framework
MR presented the results from the last 2 quarters reviews noting that findings were largely as a result
of timing due to the annual update of governance documentation which required upload to the LEP
website. No significant issues were found.
8
Next Meeting
RW noted that the next meeting will be in February 2023 to receive the Audit Plan as an audit will still
be required for 2023/24. Date tbc.
9
Any Other Business
None noted.
1
New Anglia Local Enterprise Partnership
Audit and Risk Committee
Thursday 8th February 2024
Agenda Item 8
Planning Report proposal and Members’ Voluntary Liquidation proposal
Author: Rosanne Wijnberg
Summary
This paper is intended to provide the basis for a discussion, given that there is no precedent in
this area.
The LEP has been advised that there is no legal requirement for an audit. We consulted with
stakeholders on whether a full audit would be preferable for their own assurance purposes, given
the requirement for LEP transparency. Stakeholders, including Suffolk County Council and
Norfolk Country Council, have confirmed that they are content that we proceed on the basis of
‘no audit’.
Furthermore, we need to consider the process and timeline for Members’ Voluntary Liquidation
(MVL); and the role of the Audit and Risk Committee during this process.
Recommendation
The Audit and Risk Committee is asked to:
- Confirm their agreement with the Price Bailey Planning Report proposal for the 15-month
accounting period.
- Agree the Members’ Voluntary Liquidation process proposal.
- Confirm the role of the Audit and Risk Committee in this process.
Background
Our current proposal assumes that the work broadly falls into the following areas:
• The period up to 31 March 2024, where business continues as usual.
• The period from 1 April 2024, when staff and functions have transferred. Contracted
services will be closed, final invoices will be paid, final accounts for the LEP will be
drawn up, tax computations completed.
• Members’ Voluntary Liquidation (MVL) commences.
We have made a number of assumptions regarding the role of the Audit and Risk Committee
during this process.
2
The LEP Board and LEP Members will also be required to support this process.
• The Audit and Risk Committee reviews the accounts and recommends them to the LEP
Board for sign off, (estimate June / July).
• The Audit and Risk Committee recommends the appointment of the Liquidators.
• The LEP Board convenes and undertakes the resolution to enter MVL, (estimate July).
• Board Directors approve the Declaration of Solvency (sworn in front of a solicitor),
(estimate July).
• The Board convenes a Members’ meeting, as per the articles, to pass the resolution to
enter MVL and appoint Liquidator (July / August).
MVL only commences once these resolutions have been passed. Liquidators’ final account and
report are then filed at Companies House, and the Company is closed 3 months after this filing.
Recommendation
The Audit and Risk Committee is asked to:
- Confirm their agreement with the Price Bailey Planning Report proposal for the 15-month
accounting period.
- Agree the Members’ Voluntary Liquidation process proposal.
- Confirm the role of the Audit and Risk Committee in this process.
1
LEP Audit and Risk Committee
Terms of Reference
Purpose
To ensure the development and implementation of the LEP’s polices on strategic risk management,
financial reporting, audit process, system of internal controls, providing oversight and monitoring the
integrity of these systems and ensuring compliance with the assurance framework.
Responsibilities
• Ensure that appropriate procedures are in place to identify, assess and manage risk from a
strategic and operational perspective, to monitor implementation of Risk Management
procedures and to report to the LEP Board as necessary.
• Have oversight of strategic and operational risk which is managed by the Management
Committee.
• Oversee the company’s relations with the external auditor and has primary responsibility for
making a recommendation on the appointment, reappointment and removal of the external
auditors.
• Assess the independence and objectivity of the external auditor annually, taking into
consideration relevant UK law, regulation and professional requirements.
• Review the effectiveness of the company’s internal financial controls (that is, the systems
established to identify, assess, manage and monitor financial risks.
• To review, and challenge where necessary, the actions and judgements of management in
relation to the annual financial statement.
• to review and to provide advice on whether the Annual Report and financial statements, taken
as a whole, are fair, balanced and understandable and provide the information necessary to
assess the company’s performance, business model and strategy.
• Oversees the development, implementation annual review of the LEP’s Assurance
Framework.
Membership and Appointment
The committee will consist of a minimum of four members, plus any additional members as agreed
by the Committee. An independent Chair will be appointed by the LEP board, the Accountable Body
s151 Officer, and two LEP Board members who are also appointed by the LEP Board. The LEP
Chairman, members of the Investment Appraisal Committee and members of the Leadership Team
shall not be members of the Committee. The accountable body s151 officer be allowed to delegate
authority to a suitable representative from the Suffolk County Council team.
Quorum
The quorum necessary for the transaction of business shall be three of which include the
independent Chair and the Accountable Body s151 Officer, or authorised representative. Substitutes
may only be accepted in exceptional circumstances and only for public sector members at the
discretion of the Chair.
Attendance of non-members at meetings
The LEP COO will provide management support. Other attendees include the Finance and
Governance Manager, other individuals with oversight of risk, and a representative of the external
auditor shall attend meetings at the invitation of the Committee. Other members of LEP Leadership
Team may also be invited to attend meetings when required.
2
Meeting Frequency
Meetings shall be held twice a year and, where appropriate, will coincide with key dates in the LEPS’s
financial reporting cycle. The Chair of the Audit & Risk Committee, LEP COO or external auditor may
request a meeting if they consider that one is necessary.
Delegated Authority including limits
The Committee is authorised by the LEP Board to investigate any activity within the Committee’s
terms of reference and, within its scope of responsibilities, to seek any information it requires and to
ensure the attendance of management representatives at meetings as appropriate. The Committee
has the authority to obtain outside legal or independent professional advice. The advisers may attend
meetings as necessary and the cost of the advisers shall be within budgetary constraints.
Reporting procedures
Relevant key points will be reported through the LEP Board and recorded in the Board minutes which
are published on the LEP website.
Review
The Committee shall, review its own performance once a year and terms of reference to ensure it is
operating at maximum effectiveness and recommend any changes it considers necessary to the
LEP Board for approval.
The membership of the Committee will be reviewed annually.
Last updated/reviewed: 21 February 2023
1
New Anglia Local Enterprise Partnership
Audit and Risk Committee
Thursday 8th February 2024
Agenda Item 10
New Anglia LEP Governance – Local Assurance Framework monitoring
Author: Melanie Richardson
Summary
The LEP’s Assurance Framework outlines the way we work. This paper presents the results of
our quarterly monitoring of compliance with mandatory requirements and best practice
guidelines.
Recommendation
The Audit and Risk Committee is asked to note the results of monitoring our compliance with
New Anglia LEP’s 2023 Local Assurance Framework.
Background
The National Local Growth Assurance Framework explains how LEPs should appraise, monitor
and evaluate schemes to achieve value for money. It provides Government, stakeholders and
the public with the necessary assurances that LEPs have the policies and processes in place to
ensure the robust stewardship of public funds. It contains mandatory governance, accountability
and transparency requirements and non-mandatory best practice.
New Anglia LEP’s 2023 Local Assurance Framework follows the mandatory requirements and
additional best practice guidance set out in the Government’s National Local Growth Assurance
Framework, which seeks to provide a common framework of understanding of the assurance
required for local growth funding. The 2023 Local Assurance Framework can be viewed under
‘About the LEP Board’ here
New Anglia LEP’s 2023 Local Assurance Framework was approved by the LEP Board in May
2023.
2
Monitoring Compliance
The National Local Growth Assurance Framework Annex E checklist provides the basis for our
compliance monitoring arrangements. A member of the leadership team has been assigned to
each of the areas identified in the checklist and they take accountability for monitoring compliance
for their area, with the Finance and Governance Manager undertaking spot checks as required.
Compliance against the checklist is reviewed on a quarterly basis and reported to Audit and Risk
Committee twice per year. Annex A attached sets out the results of our September and December
quarterly reviews.
Overall, we are compliant with the mandatory requirements of the Assurance Framework
checklist. You will note that the majority of amber RAG ratings are in respect of website link
issues. We continue efforts to ensure that all website links are working correctly and refer to the
most recent version of the relevant documents.
No compliance issues or actions have been raised as part of our Annual Performance Review.
The LEP Chair and Chief Executive and the s151 Officer also provide an annual Governance
Assurance Statement as part of the Annual Performance Review confirming that the LEP is
compliant with its Assurance Framework. We are required to publish our Governance Assurance
Statement on our website. This has can viewed here
Recommendation
The Audit and Risk Committee is asked to note the results of monitoring our compliance with
New Anglia LEP’s 2023 Local Assurance Framework.
Annex A
Quarterly Review of the Local Assurance Framework (LAF)
LAF requirement not met
Minor updates required
LAF requirement met
Local Assurance Framework
requirement
Annex E
Checklist
ref
Sept 23
review
Dec 23
review
Compliance issue
Alignment with the Accounting Officer System
Statement
1-5
2023 LAF and 2022 Gender Pay Gap report to be added to
‘Governance and Decision Making’ footer
Corporate structure for LEPs
14
Articles of Association – Paras 13.1 &13.3 shows Error!
Reference source not found
Local Assurance Framework & website
15-23
LEP YE 2022 accounts to be added
Websites
24
Local Engagement
25-26
Appointment Process for Board Members and Chairs
27-28
Diversity Statements
29
Given LEP transition decision not to appoint a new Equality &
Diversity champion
Board renumeration and LEP Officer salaries
30
Code of Conduct
31
Conflicts of Interest
32
The LAF requires an annual update. At the LEP we require a six
monthly update. A small number of declarations remain
outstanding.
Complaints for Third Parties and the Public
35-37
Whistleblowing Policy
38
Publication of meeting and agenda items
39
A&R public minutes for 21st Feb need uploading, public papers
for 29
th
June need uploading
Annex A
IAC papers and minutes for 21st June and 19th July need
uploading
Handling confidential and exempt information
40
Management of Contracts
41
Government Branding
42
Accountability and decision making
43-54
The LEP Board
55-57
Chair and Deputy Chair
58-60
Given LEP transition decision not to appoint a new Deputy
Chair
LEP Staff and Independent Secretariat
61
LEP Network: cooperation, collaboration and
partnership with other LEPs
62-63
The Accountable Body and Section 151 Officer
64-65
Section 151 Officer Role
66
Decisions relating to LEPs awarding public funds
67-80
Scrutiny and Audit arrangements
81
Website requirements
Modern Slavery Statement to be updated in footer to show
22/23 version
Equality & Diversity Policy to be updated in footer to show
April 23 doc
The Annual Assurance Statement for 22/23 to be updated on
the Governance and Decision-making page
Growing Places Fund page is lost – states it looks like nothing
was found at this location
