Agenda 

Meeting:	Audit and Assurance Committee	
Date:	Thursday, 8 October 2015	
Time:	10.00am	
Place:	Conference Rooms 1 and 2, Palestra, 197 Blackfriars Road, London, SE1 8NJ	

Members

Keith Williams (Chair)
Steve Wright (Vice-Chair)
Richard Barnes
Charles Belcher
Brian Cooke
Baroness Grey-Thompson DBE

Copies of the papers and any attachments are available on tfl.gov.uk How We Are Governed.

This meeting will be open to the public, except for where exempt information is being discussed as noted on the agenda. There is access for disabled people and induction loops are available. A guide for the press and public on attending and reporting meetings of local government bodies, including the use of film, photography, social media and other means is available on www.london.gov.uk/sites/default/files/Openness-in-Meetings.pdf.

Further Information

If you have questions, would like further information about the meeting or require special facilities please contact: Sue Riley, Secretariat Officer; telephone: 020 7983 4392; email:  SueRiley@tfl.gov.uk 

For media enquiries please contact the TfL Press Office; telephone: 0845 604 4141; email: PressOffice@tfl.gov.uk

Howard Carter, General Counsel
Wednesday, 30 September 2015

Agenda
Audit and Assurance Committee
Thursday, 8 October 2015

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 Audit and Assurance Committee held on 16 June 2015 
	
	General Counsel

The Committee is asked to approve the minutes of the previous meeting of the Audit Committee held on 16 June 2015 and authorise the Chair to sign them.

4	Matters Arising and Actions List 
	
	General Counsel

The Committee is asked to note the updated actions list.

	External Audit Items
	
5	Annual Audit Letter 
	
	Chief Finance Officer

The Committee is asked to note the paper. 

6	External Audit Plan TfL, TTL and Subsidiaries - Year Ending 31 March 2016 
	
	Chief Finance Officer

The Committee is asked to note the paper. 

7	KPMG Report on Non-Audit Fees for Period between 1 April - 10 July 2015 
	
	Chief Finance Officer

The Committee is asked to note the paper. 

	Internal Audit Items
	
8	Review of Internal Audit Charter 
	
	Director of Internal Audit

The Committee is asked to approve the proposed changes to the Charter.

9	Management Actions Report 
	
	Director of Internal Audit 

The Committee is asked to note the report.

10	Internal Audit Quarter 1 Report 2015/16 
	
	Director of Internal Audit 

The Committee is asked to note the report.

11	Crossrail Audit Committee 
	
	Director of Internal Audit 

The Committee is asked to note the paper.

	
Accounting and Governance
	
12	External Audit Services Policy 
	
	Chief Finance Officer

The Committee is asked to approve the Policy. 

13	Effectiveness Review of the External Auditors 
	
	Chief Finance Officer

The Committee is asked to note the paper. 

14	National Fraud Initiative 2014 
	
	Chief Finance Officer

The Committee is asked to note the paper. 

15	Strategic Risk Management Update - Quarter 1 2015 
	
	Chief Finance Officer

The Committee is asked to note the paper.

16	Any Other Business the Chair Considers Urgent 
	
	The Chair will state the reason for urgency of any item taken.

17	Date of Next Meeting: 8 December 2015 

18	Exclusion of Press and Public 
	
	The Committee is recommended to agree to exclude the press and public from the meeting, in accordance with paragraph 3 of Schedule 12A to the Local Government Act 1972 (as amended), in order to consider the following items of business.

	
Agenda Part 2
	
	Papers containing supplemental confidential or exempt information not included in the related item on Part 1 of the agenda.
	
19	Effectiveness Review of the External Auditors 
	
	Chief Finance Officer

Exempt supplemental information relating to the item on Part 1.

20	Strategic Risk Management Update - Quarter 1 2015 
	
	Chief Finance Officer

Exempt supplemental information relating to the item on Part 1.