Decision details

The Committee was requested to note the work that the Governance and Constitution Committee was undertaking to develop a Code of Corporate Governance and to consider the elements of the Code which were most relevant to the Standards Committee and its functions, so that views could be fed back to the Governance and Constitution Committee.

Whilst a Code of Corporate Governance was not strictly a legal requirement, having one in place which met Audit Commission requirements was considered best practice, as the Annual Governance Statement was required by the Accounts and Audit Regulations and a Code of Corporate Governance simplified the production of the Annual Governance Statement, as all the expected core principles in the CIPFA/SOLACE framework should be present in the local Code.  Therefore, evidencing compliance with the local Code would also provide significant evidence to support the Annual Governance Statement.

Members of the Committee requested that a further detailed report be submitted to the next meeting, to assist them in their consideration of this matter.

RESOLVED

That a further report be submitted to the next meeting of the Committee.