Issue - meetings

That the risk management controls implemented be approved.

The Executive Member for Finance and Support Services submitted a report detailing the action taken to mitigate and control strategic risks in the period January – March 2017.

It was noted that the Performance, Audit and Governance Scrutiny Committee, at its meeting held on 23 May 2017, had considered the updated register and had not forwarded any comments.

The Executive approved the recommendation now detailed.

RESOLVED - that the risk management controls implemented be approved.

The Executive Member for Finance and Support Services submitted a report on the action taken to mitigate and control strategic risks during the period January to March 2017.  The Head of Strategic Finance and Property provided a summary of the report.

In response to a query from the Chairman, the Head of Strategic Finance and Property explained the definition of inherent and residual risk in relation to Strategic Risk 3 (risk that supplier contractor or key third sector partner fails or failed to deliver). 

Councillor D Oldridge suggested that if the inherent and residual risk matrix was the same then any controls in place were ineffective.  The Chief Executive explained that in some situations such as government funding, circumstances constantly changed and would affect the matrix and might take the Council back to the same position.  In relation to the Development of Old River Lane, Bishop’s Stortford (SR16), the Chief Executive explained that the matrix had been affected by the appointment of property consultants and project consultants and that there was now a huge framework in place in moving the project forward.

The Committee received the report, as now detailed.

RESOLVED – that the report be received.