The
Audit Committee provides advice to the Council and the committees
on the effectiveness of the arrangements for the proper
administration of the Council’s financial affairs, including
all relevant strategies and plans. Without prejudice to the
generality of the above, the terms of reference include those
matters set out below;
Audit Activity
(a)
To approve the Annual Internal Audit risk based plan of
work.
(b)
To consider the Head of Internal Audit’s annual report and
opinion, and a summary of Internal Audit activity and the level of
assurance it can give over the Council’s corporate
governance, risk management and internal control
arrangements.
(c)
To consider regular progress reports from Internal Audit on agreed
recommendations not implemented within a reasonable
timescale.
(d)
To consider the External Auditor’s annual letter, relevant
reports, and the report to those charged with
governance.
(e)
To comment on the scope and depth of external audit work and to
ensure it gives value for money.
(f)
To consider the arrangements for the appointment of the
Council’s Internal and External Auditors.
Regulatory Framework
1)
To maintain an overview of the Council’s Constitution in
respect of contract procedure rules, financial regulations and
codes of conduct and behaviour.
2)
To review any issue referred to it by a Statutory Officer of the
Council or any Council body.
3)
To monitor the effective development and operation of risk
management and corporate governance in the Council.
4)
To monitor Council policies and strategies on
Whistleblowing
Money Laundering
Anti-Fraud and Corruption
Insurance and Risk Management
Emergency Planning
Business Continuity
5)
To monitor the corporate complaints process.
6)
To consider the Council’s arrangements for corporate
governance and agreeing necessary actions to ensure compliance with
best practice.
7)
To consider the Council’s compliance with its own and other
published standards and controls.
8)
To be responsible for the Council’s strategic and budgetary
framework and its implementation.
Accounts
1)
To review the annual statement of accounts. Specifically, to
consider whether appropriate accounting policies have been followed
and whether there are concerns arising from the financial
statements or from the audit that need to be brought to the
attention of the Council.
2)
To review the Council’s Annual Governance
Statement.
3)
To consider the External Auditor’s report to those charged
with governance on issues arising from the audit of the
accounts.