Assurance and Governance

When first formed in 2011 the LEP was established as a company limited by guarantee, wholly owned by Lancashire County Council but with a clear majority of private sector Directors. The LEP’s Chair and Vice Chair are drawn from the private sector.  Further company information can be found at Companies House.

The work of the LEP has been guided by the Strategic Economic Plan which was published in 2014 and sets out our growth ambitions for the next 10 years, with a clear focus on realising the potential of the whole of Lancashire. All of our funding programmes focus on improving the economy of Lancashire.

Lancashire County Council acts as our Accountable Body. This ensures that all expenditure is in accordance with all applicable legal requirements and robust processes and procedures are in place to ensure we deliver our responsibilities in an open and transparent way. These are documented in our Local Assurance Framework which is regularly reviewed. Our Assurance Framework has recently been rewritten following the publication of new guidance through the National Assurance Framework which was issued at the beginning of 2019 following the LEP Review. The Accountable Body also audits our accounts and processes.

View the LEP's Statement of Accounts 2071/18 and Profit and Loss for Accounts for 2017/18 along with Lancashire County Council's Statement of Accounts.

The Lancashire Enterprise Partnership Board comprises of the expertise of senior leaders from the private, public and higher education sectors. Board members are not remunerated for their time and all board members are required to complete a declaration of interest form which are published on our website. Declarations of interest is a standard item on all Board and sub-committee meetings. Where a decision is being taken which results in a conflict of interest, the board member in question is required to leave the room whilst a decision is taken. This is recorded in the minutes of the meeting.

All funding which is awarded is subject to a competitive process engaging with a wide range of local stakeholders. Future funding opportunities will be through open advertisement and independent due diligence. All decisions are made in accordance with the declarations of interest protocol detailed above.

A list of all the recipient of funds for projects and contracts relating to the LEP's programmes of activity can be viewed in the following documents:

The Board also has an agreed process in place to redistribute any unallocated funding within Lancashire's £320m Growth Deal Programme.

Reviews, Compliance and Best Practice

The Chair of the LEP, along with other Directors and officers from the core Executive Team, attend annual review sessions with Government officials from the Department of Business, Energy & Industrial Strategy (BEIS) to assess the LEP’s delivery, governance and strategy.

Our 2018 Annual Performance Review reconfirmed the LEP had made good progress in delivering national growth programmes and economic initiatives using robust and rigorous implementation procedures.

In March 2018, the LEP also participated in a ‘Deep Dive’ Review with Government’s Internal Audit Service. The outcome of this confirmed the LEP is ‘Good’ with ‘Outstanding’ features.

In addition, Lancashire County Council’s Internal Audit Function has worked with the LEP as part of an Annual Audit Plan with no concerns or issues having been raised.

A new Local Government Scrutiny Committee is being formed, through the Lancashire Leaders’ Forum. This will be inclusive and draw membership from across all fifteen local authorities. It will set its own agenda and programme, meet at least bi-annually and undertake at least two deep dives per annum. It will be live streamed and incorporate a question and answer session with the public in each session. These sessions will be advertised publicly, including through social media.

The LEP also plays an active role in the national LEP Network, ensuring Lancashire is represented in matters of best practice and Peer Review.

Looking ahead

2019 will see the Lancashire Enterprise Partnership working within a rapidly changing landscape as it implements the recommendations of the Government’s Review of LEPs and enters into its next phase of evolution.

Our priorities and how we operate will be defined as the LEP Review is implemented and will be further framed by the development of Lancashire's Local Industrial Strategy which we consult upon during Summer 2019.