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REVISED CORPORATION CODE OF CONDUCT The Clerk presented the revised Code of Conduct produced by Eversheds. It was noted that the revisions reflect the changes in funding arrangements. The Board: adopted the revised Code of Conduct for Corporation Members.
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FOURTEENTH AUDIT COMMITTEE ANNUAL REPORT The Vice Principal Corporate Services presented the report outlining the Committee’s activities during 2009-10 and its opinion on the adequacy and effectiveness of the College’s internal control systems. Following questions from Governors it was noted that the expenses paid to Internal Audit related to out of contract expenses such as car mileage. This was a question that had also been raised by the Audit Committee. The Clerk explained that the Board could take comfort from the fact that both Internal and External Audit were complimentary about the College’s processes for internal control arrangements. The Board noted that the Audit Committee concluded in its report: that the Committee had discharged all of its obligations under its terms of reference, and that the Audit Committee is of the opinion, based on all of its work during the year, taking account of the views and management letter of the external auditors and in particular on the assurance given in the Internal Audit Annual Report, that: i.
the Governing Body’s responsibilities, included in the financial statements, have been satisfactorily discharged ii. the College’s systems of internal control and its arrangements for risk management, control and governance processes and securing economy, efficiency and effectiveness are at least adequate and effective and, on balance are commendable and the Board may rely on them. The Board: accepted the recommendations of the Audit Committee and approved the report. S Duncan left the meeting at 7.15pm
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