Browse meetings

Audit and Corporate Governance Committee

This page lists the meetings for Audit and Corporate Governance Committee.

Information about Audit and Corporate Governance Committee

Membership

 

The Audit and Corporate Governance Committee consists of seven non-Executive councillors (those are not Members of the Cabinet) appointed in accordance with the rules of political balance. The Chairman of the Scrutiny and Overview Committee cannot be Chairman of the Audit and Corporate Governance Committee but can be an ordinary member of it. 

 

Delegation of Functions

 

The Committee can delegate its functions to its Chairman and to Officers, as appropriate.

 

Functions

 

A.       General

 

Responsibility of the Audit and Corporate Governance Committee:

 

·       To review and advise the Council on the embedding and maintenance of an effective system of corporate governance, risk management and internal control.

·       To give assurance to the Council that there is a sufficient and systematic review of the corporate governance, risk management and internal control arrangements within the Council.

·       in conjunction with the Chief Finance Officer, to commission such “value for money” or special studies as considered appropriate;

·       to consider the Performance Indicators and Local Authority Profile as published by the Audit Commission and, as appropriate, initiate investigative action;

·       to recommend to the Council action in respect any issues of major concern arising from audit reports and/or management letters.

·       to maintain an overview of the main instruments of financial control, such as Standing Orders in relation to contracts, Financial Regulations etc., and, where appropriate, make recommendations to the Council for improvement.

·       to approve the Statement of Accounts;

·       to receive quarterly updates on the Council’s use of Regulation of Investigatory Powers Act 2000 (RIPA) powers and to review the RIPA policy on an annual basis and make amendments as necessary.

 

Shared responsibility with the Cabinet:

·       to monitor the overall efficiency and effectiveness of the internal and external audit services.

·       to be informed by the Chief Finance Officer, at his discretion, of any matters of suspected fraud and/or maladministration, pending receipt of an interim or final report.

 

B.       External Audit

 

Responsibility of the Audit and Corporate Governance Committee:

·       to oversee, generally, the work of external audit and provide a suitable forum for discussion of related matters;

·       to consider, annually, the programme of work to be performed by external audit and the draft audit time budget;

·       to confirm that the managed audit approach between external audit and internal audit is working for the maximum advantage of the Council;

·       to receive, upon request, periodic presentations on specialist audit areas or other matters of interest.

Shared responsibility with the Cabinet:

·       to receive copies of all external audit reports including value for money studies;

·       to monitor, annually, or more frequently where deemed appropriate, the implementation of agreed recommendations in respect of both external audit reports and management letters.

 

C.       Internal Audit

 

Responsibility of the Audit and Corporate Governance Committee:

·       to review and confirm annually with the Chief Finance Officer the Audit Risk Index and Strategic Audit Plan;

·       in association with the Chief Finance Officer, to consider the total resource requirements for the coming year and the proposed level of fees and fee structure;

·       to monitor the activities of the Internal Audit service provider and measure performance against plan;

·       to review the annual report of the Internal Audit Manager;

·       to examine and review the planning and co-ordination of internal audits withthe aim of confirming an effective and efficient service continues to be provided;

·       to consider a quarterly report by the Audit Manager detailing audit coverage and the extent to which any major problems were highlighted;

·       to consider the draft statement on internal control prior to its inclusion in the statement of accounts.

 

These Terms of Reference can be found in the SCDC Constitution, Part 3 – Responsibility for Functions and were agreed by Council on 25 January 2007. 

 

The Audit and Corporate Governance Committee replaced the Audit Panel in 2007.