Audit Committee
On this page you'll find the general work of
the Audit Committee and its role within the
council.
About the Audit Committee
Audit committees are a key component of corporate governance.
They are a key source of assurance about the organisation’s
arrangements for managing risk, maintaining an effective control
environment, and reporting on financial and non-financial
performance. The purpose of an Audit Committee is to provide
independent assurance of the adequacy of the risk management
framework and the associated control environment, independent
scrutiny of the authority’s financial and non-financial performance
to the extent that it affects the authority’s exposure to risk and
weakens the control environment, and to oversee the financial
reporting process.
What the Audit Committee does
Functions of the Audit Committee include:
- Approve (but not direct) internal audit’s strategy, plan and
performance.
- Review summary internal audit reports and the main issues
arising, and seek assurance that action has been taken where
necessary.
- Consider the reports of external audit and inspection
agencies.
- Consider the effectiveness of the authority’s risk management
arrangements, the control environment and associated anti fraud and
anti corruption arrangements. Seek assurances that action is being
taken on risk related issues identified by auditors and
inspectors.
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Be satisfied that the Council's assurance statements properly
reflect the risk environment and any actions required to improve
it
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Ensure that there are effective relationships between external
and internal audit, inspection agencies and other relevant bodies,
and that the value of the audit process is actively promoted.
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Review the financial statements, external auditor’s opinion and
reports to members, and monitor management action in response to
the issues raised by external audit.
Membership of our Audit Committee
The Committee consists of 7 elected members on a politically
balanced basis
Terms of Reference
How effective is the Audit Committee
When the Audit Committee meets