Agenda and minutes

Other than the Council recording in accordance with usual practice, there were no declarations of intention to record the meeting.

That no Member or Officer declared any interest pursuant to any statutory requirement in any matter discussed or voted upon at the meeting.

AGREED that the minutes from the meeting held on 4 March 2026 be approved as a correct record and signed by the Chair.

The Committee considered the report from Philip Lazenby, Director of Audit (TIAA), to set the Internal Audit Plan for the 2026/27 financial year.

Appendix A provided the revised plan to be considered by the Committee.

AGREED (unanimously) that the Committee considered and commented upon the Internal Audit Plan for 2026/27 and approved for completion.

The Committee considered the report from the Business Manager for Financial Services presenting the External Audit Strategy Memorandum for the 2025/26 Statement of Accounts work for Members to review and comment.

The representative from Mazars, Ellie West presented the report to the Committee.

The External Audit Strategy Memorandum (Appendix A) sets out the proposed work of the Council’s external auditors for 2025/26, relating to the audit of the financial statements and the commentary on the Council’s Value for Money arrangements.

AGREED (unanimously) that the External Audit Strategy Memorandum be noted.

The Committee considered the report from the Business Manager for Financial Services to update Members with the forecast outturn position for the 2025/26 financial year for the Council’s General Fund and Housing Revenue Account revenue and capital budgets.

The report showed performance against the approved estimates of revenue expenditure and income.

AGREED (unanimously) that:

a)     the Committee noted the General Fund projected favourable outturn variance of £0m;

b)     the Committee noted the Housing Revenue Account projected favourable outturn variance of £0.117m to the Major Repairs Reserve;

c)     the Committee note the Capital Programme revised budget and financing of £53.759m; and

d)     the Committee noted the Prudential indicators at Appendix A.

The Committee considered the report from the Assistant Business Manager for Financial Services providing updates made to the Council’s accounting policies in relation to the closedown of the 2025/2026 financial year.

Prior to the completion of the Statement of Accounts for 2025/2026 it is important that Members are given the opportunity to discuss and comment on the accounting policies to be used in the production of the financial statements. These policies will be applied to the treatment of all transactions that make up the figures in the Statement of Accounts to ensure the accounts present a true and fair view of the financial position of the Council as at 31 March 2026.

AGREED (unanimously) that Members approved the amended Statement of Accounting Policies for 2025/2026.

The Committee considered the report from the Assistant Business Manager for Financial Services to provide Members with information regarding the assumptions made by the Valuers in calculating the figures to be reported in the 2025/26 Statement of Accounts, as per the revaluation model approach taken by the Council under IAS 16 (International Accounting Standard 16 – Property, Plant and Equipment).

AGREED (unanimously) that Members noted and approved the assumptions used in the calculation of asset valuation figures for 2025/2026.

The Committee considered the report from the Assistant Business Manager for Financial Services to provide Members with information regarding the assumptions made by the pension fund actuary in calculating the IAS 19 (International Accounting Standard 19 - Employee Benefits) figures to be reported in the 2025/2026 Statement of Accounts.

AGREED (unanimously) that Members noted and approved the assumptions used in the calculation of pension figures for 2025/2026.

The Committee considered the report from the Business Manager for Financial Services informing Members of counter-fraud activity undertaken since the last update reported on 30 September 2025.

The report gave an element of the role of the Audit & Accounts Committee is to provide assurance to the Council that its anti-fraud arrangements are operating effectively. In order to do this, counter-fraud activity reports are brought to the Committee twice a year. These reports detail the number of cases detected, amounts lost, the outcome of cases and amounts recovered, together with any other counter fraud work that has been undertaken.

AGREED (unanimously) that Members noted the report.

The Committee considered the report from the Business Manager for Financial Services informing Members of the update of the Fraud Risk Register undertaken during March 2026.

The report reminded Members that a fraud risk assessment was first undertaken in June 2014 and a fraud risk register produced and presented to the Audit and Accounts Committee.

The fraud risks are assessed annually and the register updated.  The amended Fraud Risk Register as at April 2026 was attached at Appendix A to the report.

The exempt appendix was not discussed in the open meeting or the exempt discussed during the meeting.

AGREED (unanimously) that Members noted the content of the report.

The Committee considered the report from the Business Manager for ICT & Digital Services providing the updated results of LGA Newark and Sherwood District Council Cyber 360 Report.

The Local Government Association piloted Cyber 360 (C360s) peer reviews with several Local Authorities to ensure Cyber and information Security governance and culture is being understood and adequately resourced. The Cyber 360 Action Plan is not in the public area of the open report for security reasons and is held in the exempt version.

The report informed the Committee that the action plan was now complete of all 24 actions and that it is important to note the significant risk posed by cyber security threats and potential cyber attacks to the Council. In recognition of this ongoing risk, updates regarding cyber security measures, incidents, and mitigation actions will be provided at every meeting of the Audit and Accounts Committee to ensure continued oversight and prompt response to emerging issues.

AGREED that Members reviewed, commented upon and noted the update on the LGA Newark and Sherwood District Council Cyber 360 Report.

The Committee received the Work Programme from the Business Manager for Financial Services for consideration.

The Chair expected more input to the Work Programme and the Business Manager for Financial Services would circulate further updates.

AGREED (unanimously) that the Work Programme be noted.

To consider resolving that, under section 100A (4) of the Local Government

Act 1972, the public be excluded from the meeting for the following items

of business on the grounds that they involve the likely disclosure of exempt

information as defined in part 1 of Schedule 12A of the Act.

AGREED          (unanimously) that under section 100A(4) of the Local Government Act 1972, the public and press be excluded from the meeting for the following item of business on the grounds that it involved the likely disclosure of exempt information as defined in Part 1 of Schedule 12A of the Act.

The Committee considered the exempt report from the Business Manager for ICT & Digital Services providing an update on the LGA Newark and Sherwood District Council Cyber 360 Report.