Shall
comprise of 6 members of the Council.
The Audit Committee shall meet a minimum of
4 times a year and in accordance with the cycle of meetings
approved annually by the Council.
Terms of Reference
The functions of the Audit Committee shall
be to exercise the audit powers of the Council in relation
to:
External Audit:
(i) To consider the Head of
Internal Audit’s annual report and opinion, and a summary of
Internal Audit activity (actual and proposed) and the level of
assurance it can give over the Council’s governance
arrangements.
(ii) To consider summaries of
specific Internal Audit reports as requested.
(iii) To consider reports dealing with the
management and performance of the providers of Internal Audit
Services.
(iv) To consider a report from Internal
Audit on agreed recommendations not implemented within a reasonable
timescale.
(v) To consider the External
Auditor’s Annual Letter, relevant reports, and the report to
those charged with governance.
(vi) To consider specific reports as agreed
with the External Auditor
(vii) To comment on the scope and depth of
external audit work and to ensure it gives value for
money.
(viii) To liaise with the Audit Commission over the
appointment of the Council’s external auditor.
(ix) To commission work from Internal and
External Audit.
Regulatory
Framework:
(x) To
maintain an overview of the Council’s Constitution in respect
of contract procedure rules, financial regulations and codes of
conduct and behaviour.
(xi) To review any issue referred to it by
the Chief Executive or a Corporate Director, or any Council
body.
(xii) To monitor
the governance arrangements within the Council.
(xiii) To monitor
council policies on ‘Raising Concerns at Work’ and
‘Anti-fraud and corruption’.
(xiv) To oversee the production of the Council’s
Annual Governance Statement and to formally agree it.
(xv) The Council’s arrangements for
governance and agreeing necessary actions to ensure compliance with
best practice.
(xvi) The Council’s compliance with its own and
other published standards and controls.
Accounts
(xvii) To review and approve
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.
(xviii) To consider the
External Auditor’s report to those charged with governance on
issues arising from the audit of the accounts.
Support
(xix) In order that the
Audit Committee can exercise its audit powers properly it may
require any senior officer to attend before the Audit Committee to
answer questions within their remit and it is the duty of those
persons to attend if so required”.
