Part 3B Paragraph 2.7 of the
Constitution
Role
and Function
2.7.9 The Audit and Governance
Committee will be responsible for:
External Audit Activity:
2.7.9.1
To receive and comment on the external audit plan;
2.7.9.2
To consider the external auditor’s annual letter, relevant
reports, and the report to those charged with governance;
2.7.9.3
To monitor accounting policies and any changes made during the
year;
2.7.9.4
To comment on the scope and depth of external audit work and to
ensure it gives value for money;
2.7.9.5
To monitor the implementation of management actions arising from
external audit work.
Internal Audit Activity:
2.7.9.6
To approve the terms of reference and strategy for internal audit,
and the annual internal audit plan and subsequent changes
thereto;
2.7.9.7
To monitor and review the effectiveness of internal audit to ensure
compliance with statutory requirements;
2.7.9.8
To consider the annual report, opinion, and summary on internal
audit activity and the level of assurance it provides on the
Council’s corporate governance arrangements;
2.7.9.9
To consider specific internal audit reports as requested, and receive details where it is proposed
not to accept internal audit recommendations, and monitor the
implementation of agreed management actions.
Regulatory Framework:
2.7.9.10 To
monitor and review the effective development and operation of
corporate governance, risk and performance management and internal
control, and to receive progress reports as required;
2.7.9.11 To
oversee the process for production of the annual governance
statement (AGS), to review the supporting evidence including the
arrangements for governance of partnership working, and to approve
the AGS;
2.7.9.12 To
monitor the development and implementation of the Council’s
anti-fraud, bribery and corruption policy, anti-money laundering
policy, and anti-tax evasion policy,
Financial Management and Accounts:
2.7.9.13 To
ensure the Council’s arrangements for financial management
are adequate and effective, and, together with its accounting
policies, are regularly reviewed;
2.7.9.14 To
review and approve the annual statement of accounts;
2.7.9.15 To
consider the external auditor’s report to those charged with
governance on issues arising from the audit of the
accounts.
