Report on Board Action Plan Risk Description Current Controls Assurances Action By Whom Comment Risk Score End – Dates L I S Rate 14. BSO will face 4 4 16 High Policies & Procedures; SMT monitoring; SMT oversight of Directors continue to the risk of legal Service Risk Register - Risk reporting & actions to reduce June 2014 address. challenge and/or Risk Action Plan; review; invoice backlog. financial loss under Corporate Scorecard to new legislation, the Invoice Backlog Team Board monthly. Late Payment of operational from 1st Review of existing Backlog in scanning Commercial Debt May. payment identified and recovery Regulation 2013, procedures. plan / monitoring which requires 30 established. day payment of supplier invoices. progress reports to Directors/SMT and Risk unapproved invoices All Directors being highlighted to relevant signatories. Scanning backlog Type of risk: reduced to 1 day; plan Political, Economic, to achieve zero Legislative / backlog by end June Statutory, 2014. Financial, Legal, Performance management , Customer/Citizen & Risk 12.06.13 Corporate Objective No Ensure Good Governance
Report on Board Action Plan Risk Description Current Risk Score Controls Assurances Action By Whom – End Dates Comment L I S Rate 14. BSO will face the risk of legal challenge and/or financial loss under new legislation, the Late Payment of Commercial Debt Regulation 2013, which requires 30 day payment of supplier invoices. Risk All Directors Type of risk: Political, Economic, Legislative / Statutory, Financial, Legal, Performance management , Customer/Citizen & Risk 12.06.13 4 4 16 High Policies & Procedures; Service Risk Register - Risk Action Plan; Invoice Backlog Team operational from 1st May. SMT monitoring; Risk reporting & review; Corporate Scorecard to Board monthly. SMT oversight of actions to reduce invoice backlog. Review of existing payment procedures. Directors June 2014 continue to address. Backlog in scanning identified and recovery plan / monitoring established. progress reports to Directors/SMT and unapproved invoices being highlighted to relevant signatories. Scanning backlog reduced to 1 day; plan to achieve zero backlog by end June 2014. Corporate Objective No Ensure Good Governance
Corporate_RA_Report_June_2014.docx