During the audit for 20-21, the Parish Council answered ‘no’ when asked if it had carried out an annual risk assessment – the auditors have requested that we publish an explanation to electors:
The original agenda item for reviewing the risk assessment was delayed because of the pandemic and we intended to review when we could meet in person. This did not happen due to lockdown extensions and so the review was not rescheduled in financial year 20-21.
However, we did have adequate insurance cover during the year and were reviewing it, as we were due to renew our policy in June 2021 after a three year contract. This review included adding key personnel cover for the clerk to ensure resilience.
Additionally, during every year we continually review items on our asset list and our internal financial controls and adjust these as required.
In conclusion, although we did not formally sign off on the risk assessment documentation during 20-21, we are satisfied that risks were adequately covered and have reported as such to the external auditors.