A review of the ACC Liverpool Group has set out recommendations for improving the city council’s governance and oversight of its subsidiary to reduce the financial risk to the local authority.

The review of the group, which incorporates the M&S Bank Arena and Convention Centre, Exhibition Centre Liverpool and the Pullman Hotel, has taken place following a council inspection report published in March 2021.

The independent report by Local Partnerships makes a total of 22 recommendations including improving the governance relationship between the council and The ACC Liverpool Group, and the local authority’s oversight of its financial position.

Many of the recommendations are already being delivered, according to the council.

A Governance Agreement has already been developed and is currently being reviewed by both parties, and responsibility for the cost of repairs and maintenance of the complex is set to be transferred to The ACC Liverpool Group as part of a new lease.

Assistant mayor and cabinet member for strategic development, Cllr Sarah Doyle, said: ‘This review is part of our improvement journey to make sure our governance arrangements are as good as they can be, and that we are getting best value and social value from our assets. This is something that the council has not been good at previously, and we are committed to putting it right. In the last year we have also worked with The ACC Liverpool Group on the creation of its own Ethical Charter to make sure it fits with the values of the city.

‘It is right and proper that periodically, we take a long, hard, strategic look at our assets and consider whether or not to operate them in a different way. In 2023/2024 we will carry out a full options appraisal regarding The ACC Liverpool Group’s future operation. It is important to be clear that this will have absolutely no impact on the operation of the complex in the short and medium term, and events such as Eurovision and all the other high profile conferences and concerts that are in the calendar will take place as planned.’

Faye Dyer, managing director of The ACC Liverpool Group, said: ‘The recommendations outlined in the Cabinet meeting relate to Liverpool City Council’s review of its subsidiary companies as highlighted in the Max Caller report in March 2021. We have worked closely with the City Council to assist in this review and are pleased that it did not identify any significant concerns with the internal operation of The ACC Liverpool Group.

‘We appreciate that the report includes a number of recommendations which are already in progress and will enable us to continue to be a cornerstone of the city’s business and leisure tourism offer.’