NRS Audit and Risk Committee (ARC) Meeting
Thursday 11 September 2025
MICROSOFT TEAMS 12:30 – 13:30
ARC Members
Maggie Waterston (Chair) NRS Non-Executive Director
Anne Moises NRS Non-Executive Director
Tim Wright NRS Non-Executive Director
Bryan Robertson NRS Non-Executive Director
John McDonough NRS Non-Executive Director
ARC Attendees
NRS, Director for Corporate Services & Accountable Officer
NRS, Corporate Finance Lead
SG, Senior Internal Audit Manager
SG, Internal Auditor
Grant Thornton, External Audit Engagement Director
Grant Thornton, External Audit Engagement Manager
NRS, Head of NRS Business Management
NRS, Business Support Officer (Secretariat)
Apologies
Alison Byrne NRS, Chief Executive
1. Welcome, Introductions and Apologies. Declaration of Interests & Matters Arising
1.1 Maggie Waterston welcomed everyone to the meeting. Apologies were noted as listed above.
1.2 1.2 There were no declarations of interests or matters arising.
1.3 1.3 Members noted the purpose of the meeting was to sign off the final NRS AR&A, AAR and Letter of Representation following receipt of pensions data from MyCSP.
2. External Audit: Annual Audit Report 2024-25 (AAR)
2.1 Grant Thornton introduced the AAR report with the following key points below:
- · The pension information had been provided to NRS by MyCSP and had been added to the accounts
- · The Annual audit report was unmodified
- · The quality of the Annual Report and Accounts and supporting papers were of a good standard
3. NRS Annual Report and Accounts 2024-25 (NRS AR&A) Covering Report
3.2 The NRS Corporate Finance Lead presented the NRS AR&A Covering Report which outlined the process and timelines completed as part of the audit by Grant Thornton of the NRS Annual Report and Accounts.
3.3 No matters arising were raised as significant and Grant Thornton had advised of an unmodified audit opinion and were content that the financial statements gave a true and fair view of NRS as of 31 March 2025.
3.4 The NRS Corporate Finance Lead advised the NRS AR&A from 2024-25 would be laid in Parliament before the end of the year.
4.2 NRS Annual Report and Accounts for 2024-25
4.3 The NRS Corporate Finance Lead introduced the NRS AR&A for 2024-25.
4.4 The Director of Corporate Services & Accountable officer noted she was content that the accountability and governance reports were an accurate reflection of NRS.
4.5 The Committee were content to recommend that the Accountable Officer approve and sign the NRS AR&A for 2024-25.
4.6 The NRS Accountable Officer and Grant Thornton would sign the AR&A which would be submitted to the Auditor General.
5.1 NRS Letter of Representation
5.2 The NRS, Director for Corporate Services & Accountable Officer Lead introduced the NRS Letter of Representation.
5.3 The Committee noted the letter’s content.
6. AOB & Date of Next Meeting
The date of the next meeting was noted as 27 November 2025 and Close
End
