Agenda

This meeting is now online only, Audit and Assurance Committee - Monday 6 June 2022 10:00

Venue: Teams Virtual Meeting

Contact: Sue Riley, Secretariat Officer

Note: Due to the expected industrial action, the meeting will be held via Teams with decisions taken by Chair's Action. The meeting can be watched live using the YouTube link on the front page of the agenda.

Items
No.	Item
1.	Apologies for Absence and Chair's Announcements
2.	Declarations of Interests General Counsel Members are reminded that any interests in a matter under discussion must be declared at the start of the meeting, or at the commencement of the item of business. Members must not take part in any discussion or decision on such a matter and, depending on the nature of the interest, may be asked to leave the room during the discussion.
3.	Minutes of the Meeting of the Committee held on 16 March 2022 PDF 242 KB General Counsel The Committee is asked to approve the minutes of the meeting of the Committee held on 16 March 2022 and authorise the Chair to sign them.
4.	Matters Arising and Actions List PDF 13 KB General Counsel The Committee is asked to note the updated actions list. Additional documents: appendix-1 , item 4. PDF 116 KB aac-20220525-chairs-action-scorecard-assurance-2021-22 , item 4. PDF 387 KB
5.	Annual Report 2021/22 PDF 150 KB Chief Customer and Strategy Officer The Committee is asked to note the Annual Report and the delegation to the Chief Customer and Strategy Officer to make any adjustments prior to submission to the Board. Additional documents: Draft Annual Report for Review , item 5. PDF 11 MB
6.	TfL Statement of Accounts for the Year Ended 31 March 2022 PDF 404 KB Chief Finance Officer The Committee is asked to note the draft Statement of Accounts and the delegation to the Chief Finance Officer to make any adjustments arising from the ongoing audit work prior to submission to the Board. Additional documents: Appendix 1: Draft TfL Financial Statements , item 6. PDF 4 MB Appendix 2: Template for annual letter of support from TfL to its subsidiary companies , item 6. PDF 250 KB PUB22_005_AnnualReport_Remuneration_010622 , item 6. PDF 854 KB
	External Audit Items
7.	EY Report to Those Charged with Governance PDF 111 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: EY Report to Those Charged with Governance , item 7. PDF 2 MB
8.	EY Letter on Independence and Objectivity PDF 251 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 8. PDF 50 KB
9.	EY Report on Audit and Non-Audit Fees for Six Months Ended 31 March 2022 PDF 108 KB Chief Finance Officer The Committee is asked to note the report. Additional documents: appendix-1 , item 9. PDF 98 KB
10.	Annual Audit Fee 2022/23 PDF 113 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 10. PDF 100 KB
	Audit, Risk and Assurance Items
11.	Risk and Assurance Quarter 4 Report 2021/22 PDF 354 KB Director of Risk and Assurance The Committee is asked to note the report and the supplementary information on Part 2 of the agenda. Additional documents: appendix-1 , item 11. PDF 390 KB appendix-2 , item 11. PDF 296 KB appendix-3 , item 11. PDF 262 KB appendix-4 , item 11. PDF 260 KB appendix-5 , item 11. PDF 245 KB There are a further 6 documents.View the full list of documents for item 11.
12.	Risk and Assurance Annual Report 2021/22 PDF 505 KB Director of Risk and Assurance The Committee is asked to note the report. Additional documents: appendix-1 , item 12. PDF 241 KB
13.	Independent Investment Programme Advisory Group Quarterly Report PDF 531 KB General Counsel The Committee is asked to note the report, the management response and the supplementary information on Part 2 of the agenda. Additional documents: appendix-1 , item 13. PDF 358 KB
14.	Elizabeth Line Programme Assurance Quarter 4 Report 2021/22 PDF 134 KB Director of Risk and Assurance The Committee is asked to note the report. Additional documents: appendix-1 , item 14. PDF 323 KB appendix-2 , item 14. PDF 344 KB appendix-3 , item 14. PDF 354 KB appendix-4 , item 14. PDF 339 KB
	Accounting and Governance
15.	Review of Governance and the Annual Governance Statement for Year Ended 31 March 2022 PDF 304 KB General Counsel TheCommittee is asked to note the paper and approve the Annual Governance Statement, as set out in Appendix 1 of this paper, for signing by the Chair of TfL and the Commissioner, for inclusion in the 2021/22 Annual Report and Accounts and note the progress against the 2021/22 improvement plan, as set out in Appendix 2 and the plan for 2022/23, as set out in Appendix 3.
16.	Legal Compliance Report (1 October 2021 - 31 March 2022) PDF 462 KB General Counsel The Committee is asked to note the report.
17.	Finance Control Environment Trend Indicators PDF 14 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 17. PDF 479 KB
18.	Register of Gifts and Hospitality for Members and Senior Staff PDF 138 KB General Counsel The Committee is asked to note the paper. Additional documents: appendix-1 , item 18. PDF 294 KB
19.	Members' Suggestions for Future Discussion Items PDF 105 KB General Counsel The Committee is asked to note the forward plan and is invited to raise any suggestions for future discussion items for the forward plan and for informal briefings. Additional documents: appendix-1 , item 19. PDF 111 KB
20.	Any Other Business the Chair Considers Urgent The Chair will state the reason for urgency of any item taken.
21.	Date of Next Meeting Wednesday, 21 September 2022 at 10.00am
22.	Exclusion of Press and Public The Committee is recommended to agree to exclude the press and public from the meeting, in accordance with paragraphs 3, 5 & 7 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business.
	Agenda Part 2
23.	Risk and Assurance Quarter 4 Report 2021/22 View the reasons why item 23. is restricted Director of Risk and Assurance Exempt supplementary information relating to the item on Part 1.
24.	Independent Investment Programme Advisory Group Quarterly Report View the reasons why item 24. is restricted General Counsel Exempt supplementary information relating to the item on Part 1.