The Audit and Governance
Committee will be responsible for:
Internal audit activity
·
to approve the
terms of reference and strategy for internal audit, and the annual
internal audit plan
·
to monitor and
review the effectiveness of internal audit to ensure compliance
with statutory requirements
·
to consider the
head of internal audit’s annual report and opinion, and a
summary on internal audit activity and the level of assurance it
provides on the council’s corporate governance
arrangements
·
to consider
specific internal audit reports as requested, and monitor the
implementation of agreed management actions.
External audit activity
·
to receive and
comment on the external audit plan
·
to consider the
external auditor’s annual letter, relevant reports, and the
report to those charged with governance
·
to comment on the
scope and depth of external audit work and to ensure it gives value
for money
·
to monitor the
implementation of management actions arising from external audit
work.
Regulatory framework
·
To monitor and
review the effective development and operation of corporate
governance, risk management and internal control, and to receive
progress reports as required
·
To oversee the
process for production of the annual governance statement (AGS), to
review the supporting evidence, and to approve the draft
AGS
·
To monitor the
development and implementation of the council’s anti-fraud
and corruption policy and strategy
Financial management and accounts
·
To ensure the council’s arrangements for
financial management are adequate and effective, and are regularly
reviewed
·
To review and approve the annual statement of
accounts
·
To consider the external auditor’s report to
those charged with governance on issues arising from the audit of
the accounts.