Issue - meetings

Risk Strategy Annual Review

Meeting: 04/04/2023 - Cabinet (Item 4)

4 Risk Strategy Annual Review PDF 100 KB

Additional documents:

Minutes:

Background:

This report provided details of the annual review of the Risk Strategy. The report stated that the Risk Management Strategy was reviewed annually to ensure it remained up to date and continued to reflect the Council’s approach to risk management. The proposed 2023/24 Risk Strategy was attached as Appendix 1 to the report.

The annual review had been considered by the Audit Committee on 16 March 2023, which had noted the report. The Business Support Overview and Scrutiny Committee also considered the report on 30 March 2023 and its comments were set out in an addendum report within Supplementary Agenda No.1.

Decision number:	Decision:
	The Cabinet noted the outcome of consideration of the report by the Audit Committee, as set out at paragraph 4.1.6 to the report and the comments of the Business Support Overview and Scrutiny Committee, as set out in the addendum report.
49/2023	The Cabinet approved the 2023/24 Risk Strategy at Appendix 1 to the report, which set out the Council’s approach to risk management.
50/2023	The Cabinet agreed to delegate authority to the Chief Operating Officer, in consultation with the Portfolio Holder for Business Management, to consider adding to the Risk Strategy, references to resource risks, risk ratings and unexpected risks, as set out in paragraphs 1.9 to 1.11 of the Addendum report and if considered appropriate, to make the relevant changes to the Risk Strategy.

Reasons:

The establishment of a corporate framework for risk management is recommended by CIPFA and SOLACE and will complement and support the work already being carried out within each directorate to manage risks.