Agenda

Audit and Assurance Committee - Wednesday 17 September 2025 10:30

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 Meetings of the Committee held on 4 June and 2 July 2025 PDF 235 KB General Counsel The Committee is asked to approve the minutes of the meetings held on 4 June and 2 July 2025 and authorise the Chair to sign them. Additional documents: aac-20250702-minutes , item 3. PDF 239 KB
4.	Matters Arising and Actions List PDF 103 KB General Counsel The Committee is asked to note the updated actions list. Additional documents: appendix-1 , item 4. PDF 266 KB
5.	Finalisation of TfL’s Statement of Accounts for Year Ended 31 March 2025 PDF 293 KB Chief Finance Officer The Committee is asked to: (a) in accordance with authority delegated by the Board on 21 July 2025, approve the 2024/25 Statement of Accounts, subject to any comments Members may have; (b) note that the Chair of the Committee will sign and date the Statement of Accounts in due course; and (c) note that the level of Minimum Revenue Provision has been made in the Statement of Accounts in accordance with the policy approved by the Board. Additional documents: appendix-1 , item 5. PDF 8 MB
	External Audit Items
6.	EY Audit Results Report - Year Ended 31 March 2025 PDF 14 KB Chief Finance Officer The Committee is asked to note the paper. Additional documents: appendix-1 , item 6. PDF 967 KB
	Audit, Risk and Assurance Items
7.	Risk and Assurance Report Quarter 1 2025/26 PDF 237 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 and approve the Internal Audit plan 2025/26 Phase 2 and the Quality, Safety and Security plan 2025/26 Phase 2. Additional documents: appendix-1 , item 7. PDF 316 KB appendix-2 , item 7. PDF 545 KB appendix-3 , item 7. PDF 180 KB appendix 4 , item 7. PDF 277 KB appendix-5 , item 7. PDF 103 KB appendix-6 , item 7. PDF 128 KB
8.	Independent Investment Programme Advisory Group Quarterly Report PDF 237 KB General Counsel The Committee is asked to note the Independent Investment Programme Advisory Group Quarterly report and the management response. Additional documents: appendix-1 , item 8. PDF 487 KB
9.	Places for London Assurance Update PDF 253 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 9. PDF 127 KB appendix-2 , item 9. PDF 235 KB appendix-3 , item 9. PDF 143 KB
	Accounting and Governance
10.	Effectiveness Review of the External Auditors PDF 128 KB Chief Finance Officer The Committee is asked to note the paper and the exempt supplementary information on Part 2 of the agenda.
11.	Freedom of Information Update PDF 228 KB General Counsel The Committee is asked to note the paper. Additional documents: appendix-1 , item 11. PDF 147 KB appendix-1 , item 11. PDF 64 KB
12.	Financial Control Environment Trend Indicators PDF 118 KB Chief Finance Officer The Committee is asked to note the paper and the Financial Control Environment Trend Indicators dashboard. Additional documents: appendix-1 , item 12. PDF 262 KB
13.	Register of Gifts and Hospitality for Members and Senior Staff PDF 136 KB General Counsel The Committee is asked to note the paper. Additional documents: appendix-1 , item 13. PDF 105 KB
14.	Members' Suggestions for Future Discussion Items PDF 104 KB General Counsel The Committee is asked to note the forward plan and is invited to raise any suggestions for future discussion items. Additional documents: appendix-1 , item 14. PDF 254 KB
15.	Any Other Business the Chair Considers Urgent The Chair will state the reason for urgency of any item taken.
16.	Date of Next Meeting Thursday 27 November 2025 at 10.30am.
17.	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 7 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business.
	Agenda Part 2
18.	Risk and Assurance Report Quarter 1 2025/26 View the reasons why item 18. is restricted Exempt supplementary information relating to the item on Part 1.
19.	Places for London Assurance Update View the reasons why item 19. is restricted Exempt supplementary information relating to the item on Part 1.
20.	Effectiveness Review of the External Auditors View the reasons why item 20. is restricted Exempt supplementary information relating to the item on Part 1.