REPORT OF THE

STANDARDS COMMITTEE

PART I

CORPORATE GOVERNANCE

The Committee has considered a comprehensive report on the framework for corporate governance of the County Council. This follows on from the publication of a code of practice and guidance by the Chartered Institute of Public Finance and Accountancy (CIPFA) and the Society of Local Authority Chief Executives (SOLACE). The definition given for corporate governance is "the system by which organisations are directed and controlled". It involves the integration of financial controls with the key principles of:

_ Community focus

_ Service delivery

_ Structures and processes

_ Risk management

_ Standards of conduct

The County Council therefore needs to build on its already strong regulatory framework of control, monitoring and review, to codify its policies, practices and procedures, and to establish robust arrangements for review and compliance. This approach fits in well with the corporate strategy and the County Council's recent Corporate Performance Assessment.

The Committee has accepted that responsibility for the preparation and review of the County Council's Code of Corporate Governance should rest with them, and they have adopted the relevant code for implementation. They have also approved the outline terms of a statement of assurance, which they consider should be signed by their Chairman. To that end, they will receive regular reports from the Monitoring Officer and the County Treasurer on audit strategy, planning and delivery.

Corporate Governance will represent a major commitment for the Standards Committee to discharge on behalf of the County Council. They therefore submit a recommendation below to amplify their terms of reference. Copies of the documents referred to and briefly summarised in this report have been placed in the Members' rooms.

RECOMMENDATION

That the terms of reference of the Standards Committee be amended to include the following:

_ The adoption, review and amendment of the corporate governance framework for the County Council.

_ To receive and consider reports from the County Treasurer on internal audit strategy, planning and delivery.

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