Following feedback from stakeholders in 2016/2017, we are consulting on the operation of our compliance risk model to ensure that it continues to provide sufficient and accurate information to allocate our limited resources to enable us to deliver our statutory assurance role. We are running a small consultation exercise, which includes a stakeholder sounding board meeting on Tuesday 23 May 2017 starting at 10.30am at our offices in Leamington Spa.
In accordance with the Landfill Tax Regulations 1996 (Regulations) 33 (1) (i) ENTRUST is statutorily required to satisfy ourselves, by reference to records, or other documents, or information held by Environmental Bodies (EBs), that the qualifying contributions received by an EB have been spent by it only in the course, or furtherance of the Regulations and the EB’s approved objects. Under the Regulations and the ENTRUST/HMRC Terms of Approval (TOA), ENTRUST is required to provide HMRC with assurance that all Landfill Communities Fund (LCF) monies have been spent compliantly. Fundamental to ENTRUST’s approach in delivering these statutory requirements is visiting EBs to review their governance arrangements, operating systems and project spend to ensure they comply with the Regulations and best governance practice to safeguard LCF monies.
Following the reduction in the size of the LCF, in 2016/2017 we further reduced the size of our Compliance Team and as a direct consequence in 2017/2018, we will reduce the number of inspections that we undertake. To achieve this objective and maintain levels of assurance required under the Regulations and the TOA, requires a change to how we assess which organisations to inspect whilst continuing to manage risk across the fund and our own organisational resources.
Following feedback from stakeholders in 2016/2017, we are therefore consulting on the operation of our compliance risk model to ensure that it continues to provide sufficient and accurate information to allocate our limited resources to enable us to deliver our statutory assurance role.
We are running a small consultation exercise, which includes a stakeholder sounding board meeting on Tuesday 23 May 2017 starting at 10.30am at our offices in Leamington Spa. If you would like to attend the event please visit the training booking page on our website to book your place.
If you are not able to attend the event and would like to provide any feedback on this issue, before, or after the meeting (we will publish the slides and minutes) please contact Mike Holland (Compliance Manager) or Alison Bennett (Deputy Chief Executive).
Once this review is completed, we intend to publish the updated model on our web site. We will also ensure that we communicate clearly with EBs, through our email communications channel, regarding the changes to our inspection processes and the reasons for the change.