Audit Committee

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Audit Committee

Membership: Councillors M. Mooney (Chairman), A.K. Azad, J. Barnes, R.K. Bird, R.C. Carroll, K.P. Dixon and I.G.F. Jenkins.

Scheduled meeting dates :
2017 - 27 March, 26 June, 27 September and 11 December
2018 - 26 March

Functions and Delegations

Statement of Purpose

When considering Audit matters, the purpose of the 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.

1.1 Audit Activity

To consider the Head of Audit's annual audit report and opinion, and a summary of internal audit activity.

To consider summaries of specific internal audit reports as requested.

To consider a report from internal audit on agreed recommendations not implemented within a reasonable timescale.

To consider the external auditor's annual letter, relevant reports and the report to those charged with governance.

To consider specific reports as agreed with the external auditor.

To comment on the scope and depth of external audit work and to ensure it gives value for money.

To consider the governance arrangements for the management and monitoring of the Council's significant partnerships.

1.2 Regulatory Framework

To maintain an overview of the Council's Constitution in respect of contract procedure rules, financial regulations and   codes of conduct and behaviour (other than the Code of Conduct for Members).

To review any issue referred to it by the Head of Paid Service, Executive Directors, or any council body.

To monitor the effective development and operation of risk management and corporate governance in the council.

To monitor council policies on 'Raising Concerns at Work' and the anti-fraud and anti-corruption strategy and the council's complaints process.

To oversee the production of the Council's Annual Governance Statement and to recommend its adoption.

To consider the council's arrangements for corporate governance and agreeing necessary actions to ensure compliance with best practice,

To consider the Council's compliance with its own and other published standards and controls.

1.3 Accounts

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.  To agree the signing of the accounts following the review.

Approving the authority's statement of accounts, income and expenditure and balance sheet or records of receipts and payments (as the case may be).  (The Accounts and Audit Regulations 2003 - S.I. 2003/533).

To consider the external auditor's report to those charged with governance on issues arising from the audit of the accounts.

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