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Item 16 Report to Board, Thursday 30th March 2017 Report title Audit Committee summary report Report from Nick Hardie, non-executive director Prepared by Geoff Stokes, head of corporate governance Previously discussed at N/A Attachments N/A Brief summary of report This report summarises the key agenda items discussed and key decisions made during the March meeting of the Audit committee. Action Required/Recommendation. The board is asked to note the discussions and decisions made by the Audit committee For Assurance For decision For discussion To note AUDIT COMMITTEE SUMMARY REPORT 21 March 2017 Committee Governance Quorate – Yes Attendance (membership) – 3/3 Agenda completed – Yes The committee covered the following standard items; Waivers to standing financial instructions (SFIs) Losses and special payments Internal audit update and recommendations tracker Counter fraud progress report External audit benchmarking and sector developments In addition, the following were also covered; Audit and risk committee terms of reference – these were reviewed and agreed by the committee Agenda items discussed Annual review of SFIs – these are on the board agenda to approve. The committee noted the exercise to simplify and shorten SFIs and the benchmarking exercise undertaken by KPMG that supported the changes to delegated approval levels. A further iteration of SFIs will take place later in the year. Abu Dhabi accounting – the committee considered various accounting proposals in respect of the investment in Abu Dhabi, particularly in the context of the trust's approaching financial year end VAT accounting error – this is explained in the report to the board from the chief finance office Board assurance framework and risk management – the head of corporate governance explained the current position regarding the board assurance framework and risk management in the trust and issues identified in the initial review of corporate governance carried out by Deloitte last year. The committee discussed further actions needed to strengthen assurance and the overall timeline of when these changes will take place Draft annual governance statement (AGS) – a draft AGS was presented and discussed, This will form part of the annual report to be approved in May Internal audit review, referral to treatment – the committee heard of good progress made in improving patient pathways and strengthening data accuracy for patients waiting for treatment Internal audit review, information governance toolkit – the committee received a positive report about the trust’s compliance with NHS requirements for managing information governance Internal audit plan 2017/18 – the committee reviewed the draft audit plan which will be formally approved at its next meeting in May. The plan is likely to include audits of the management of satellite sites, cyber security, temporary staff management as well 2 of 3 Moorfields private and the trusts approaches to equality and diversity Key decisions Additional comments to note Draft head of internal audit opinion – this shows no significant concerns and will be updated as part of the annual report Counter fraud plan 2017/18 – the draft plan was reviewed and will include reviews of pre-employment checks, invoicing and procurement. Identification of a bank account – the chief financial officer informed the committee that a bank account had been discovered relating to the trust’s operations in Bedford which is not under the control of the trust. The bank account is being closed and funds transferred to the trust The committee approved the draft terms of reference and the SFIs and approved the draft annual plans for internal audit and counter-fraud. The newly appointed non-executive director, David Hills, was in attendance for this meeting and he will formally join the committee at its next meeting. Thanks were given to Andrew Nebel, who is stepping down as a nonexecutive, for his service to the committee and the trust. 3 of 3