INTERNAL auditors have identified practices within Monmouthshire County Council which pose “unacceptable levels of risk” to the authority.

A report due to go before the audit committee this week reveals that eight unfavourable audit opinions were recorded in 2017/18.

Such opinions are issued when “serious weaknesses in internal control have been identified”, says the report.

All eight of the practices were found to have a “limited level of assurance” – the worst rating – with four deemed a high risk, and the remainder posing a medium risk.

One high-risk area identified was the council’s events team, notably the handling of several concerts at Caldicot Castle.

It was revealed earlier this year that the council lost £140,000 hosting five gigs during a nine-day period in July 2017.

Acts included Little Mix, Caldicot band Rusty Shackle, Ocean Colour Scene, Only Men Aloud and the Retroactive Festival, which featured The Human League, Tony Hadley and Jason Donovan.

Speaking in February, council chief Kellie Beirne said the Little Mix concert, which the council say drew in more than 15,000 fans, had been a “commercial success”.

But the outgoing deputy chief executive said the need to redouble security efforts after the Manchester Arena bombing, coupled with low ticket sales at the smaller events, led to a “big financial impact”.

The audit committee report, which will be discussed on May 24, said: “Senior managers provided assurances that, should the events programme be run on such a large scale again, significant improvements in the control environment would be made.”

It adds that the matter will be discussed with councillors behind closed doors due to the “confidential nature of the discussion”.

Other audit opinions carrying a limited level of assurance include the Borough Theatre Trust, whose members failed to secure enough funding to keep the theatre going.

The council, who took over the venue’s lease in February, are currently reviewing the venue’s long-term viability and are due to report in the autumn.

Auditors also flagged up the council not employing an officer dedicated to policing the purchasing of food, and that there was no evidence of contracts between the authority and suppliers.

“The authority did not hold evidence of pre-checks and on-going monitoring undertaken by third parties,” the report says.

“For the sample of staff contacted, there was a lack of awareness about the need to perform appropriate vetting to due diligence checks on a food supplier before buying from them.”

The report also reveals that there had been “inappropriate” sign-off of grant claims within the youth service, and that a separate bank account outside of council arrangements had operated with “a lack of suitable control”.

Since 2012/13, auditors have identified 31 unsatisfactory practices within the council.