Agenda

Audit and Assurance Committee - Wednesday 5 June 2024 10:00

Venue: Conference Rooms 1 and 2, Ground Floor, Palestra, 197 Blackfriars Road, London, SE1 8NJ

Contact: Sue Riley, Secretariat Officer

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 14 March 2024 PDF 250 KB Interim General Counsel The Committee is asked to approve the minutes of the meeting of the Committee held on 14 March 2024 and authorise the Chair to sign them.
4.	Matters Arising, Actions List and Use of Delegated Authority PDF 205 KB Interim General Counsel The Committee is asked to note the Actions List and the use of Chair’s Action. Additional documents: appendix-1 , item 4. PDF 121 KB Chair's Action - Use of Delegated Authority , item 4. PDF 399 KB
5.	Review of Governance and the Annual Governance Statement for Year Ended 31 March 2024 PDF 325 KB Interim General Counsel The Committee is asked to note the paper and approve the Annual Governance Statement, as set out in Appendix 1 of the paper, for signing by the Chair of TfL and the Commissioner, for inclusion in the 2023/24 Annual Report and Accounts; and note the progress against the 2023/24 improvement plan, as set out in Appendix 2 to the paper and the plan for 2024/25, as set out in Appendix 3 to the paper.
6.	Ernst & Young Report to Those Charged with Governance PDF 112 KB Chief Finance Officer The Committee is asked to note the report. Additional documents: appendix-1 , item 6. PDF 3 MB
7.	Update on Key Accounting Issues PDF 144 KB Chief Finance Officer The Committee is asked to note the paper and the exempt supplementary information on Part 2 of the agenda.
8.	EY Letter on Independence and Objectivity PDF 110 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 8. PDF 173 KB
9.	EY Report on Audit and Non-Audit Fees for Six Months Ended 31 March 2024 PDF 109 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 9. PDF 164 KB
10.	Annual Audit Fees 2023/24 PDF 121 KB Chief Finance Officer The Committee is asked to note the paper.
	Audit, Risk and Assurance Items
11.	Risk and Assurance Annual Report and Assurance Statement 2023/24 PDF 212 KB Director of Risk and Assurance The Committee is asked to note the report.
12.	Risk and Assurance Quarter 4 Report 2023/24 PDF 301 KB Director of Risk and Assurance The Committee is asked to note the paper and the exempt supplementary information on the changes to Risk Appetite and Tolerance as set outon Part 2 of the agenda. Additional documents: appendix-1 , item 12. PDF 143 KB appendix-2 , item 12. PDF 180 KB appendix-3 , item 12. PDF 67 KB appendix-4 , item 12. PDF 119 KB
13.	Independent Investment Programme Advisory Group Quarterly Report PDF 245 KB Interim General Counsel The Committee is asked to note IIPAG’s Quarterly Report and the management response and approve the IIPAG Workplan for 2024/25. Additional documents: appendix-1 , item 13. PDF 467 KB appendix-2 , item 13. PDF 406 KB appendix-3 , item 13. PDF 301 KB
14.	Places for London Assurance Update PDF 254 KB Director of Risk and Assurance The Committee is asked to note the paper and the exempt supplementary information on Part 2 of the agenda. Additional documents: appendix-1 , item 14. PDF 276 KB appendix-2 , item 14. PDF 244 KB appendix-3 , item 14. PDF 177 KB
	Accounting and Governance
15.	Counter-Fraud and Corruption Plan to 2030 PDF 131 KB Director of Risk and Assurance The Committee is asked to note the plan and the exempt supplementary information on Part 2 of the agenda.
16.	Legal Compliance Report (1 October 2023 - 31 March 2024) PDF 271 KB Interim General Counsel The Committee is asked to note the report. Additional documents: appendix-1 , item 16. PDF 14 KB
17.	Finance Control Environment Trend Indicators PDF 117 KB Chief Finance Officer The Committee is asked to note the dashboard at Appendix 1. Additional documents: appendix-1 , item 17. PDF 195 KB
18.	Register of Gifts and Hospitality for Members and Senior Staff PDF 139 KB Interim General Counsel The Committee is asked to note the paper. Additional documents: appendix-1 , item 18. PDF 238 KB
19.	Members' Suggestions for Future Discussion Items PDF 106 KB Interim 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 254 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, 18 September 2024 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 and 5 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business.
	Agenda Part 2
23.	Update on Key Accounting Issues View the reasons why item 23. is restricted Exempt supplementary information relating to the item on Part 1.
24.	Risk and Assurance Quarter 4 Report 2023/24 View the reasons why item 24. is restricted Exempt supplementary information relating to the item on Part 1.
25.	Places for London Assurance Update View the reasons why item 25. is restricted Exempt supplementary information relating to the item on Part 1.
26.	Counter-Fraud and Corruption Plan to 2030 View the reasons why item 26. is restricted Exempt supplementary information relating to the item on Part 1.