Finance Risk of Low . Loss of key Adequate level of insurance Current insurance Review the need consequential data. cover. Any important policy schedule. for consequential loss of 1 documents backed up, kept Data backup. loss insurance income in locked filing cabinet. cover. Storage of Numbers of key documents Computers regular, onsite bookings when obtained and cloud backups should be in a fireproof lockable Ensure buildings are cabinet. maintained in a useable lettable condition Finance Loss of cash Medium Adverse Adequate level of fidelity Insurance policy Review level of through theft publicity for the insurance cover, with a document fidelity insurance or dishonesty 3 council on minimum of £10,000. relevant to disclosure. size/activity of Reputational council. risk. Financial loss. Finance Financial Medium Lack of control Accounts and asset register Monthly bank Set up of controls and over the prepared on appropriate accounts statements. computerised records 3 Council’s computerised accounting Bank reconciliation asset register and assets. Higher system. Bank reconciliations statements. Signed reconcile to agreed likelihood of undertaken on a regular expenditure insurance values. fraud or basis. Expenditure payments reports. Update asset
Finance Risk of consequential loss of income Low 1 . Loss of key data. Adequate level of insurance cover. Any important documents backed up, kept in locked filing cabinet. Computers regular, onsite and cloud backups Ensure buildings are maintained in a useable lettable condition Current insurance policy schedule. Data backup. Numbers of bookings Review the need for consequential loss insurance cover. Storage of key documents when obtained should be in a fireproof lockable cabinet. Finance Loss of cash through theft or dishonesty Medium 3 Adverse publicity for the council on disclosure. Reputational risk. Financial loss. Adequate level of fidelity insurance cover, with a minimum of £10,000. Insurance policy document Review level of fidelity insurance relevant to size/activity of council. Finance Financial controls and records Medium 3 Lack of control over the Council’s assets. Higher likelihood of fraud or Accounts and asset register prepared on appropriate computerised accounting system. Bank reconciliations undertaken on a regular basis. Expenditure Monthly bank accounts statements. Bank reconciliation statements. Signed expenditure payments reports. Set up of computerised asset register and reconcile to agreed insurance values. Update asset
pc-risk-assessment.docx