1
Audit Committee
Composition: Seven
Councillors in political balance. Chair appointed by Council
annually.
The Chair and Vice Chair must not be a member of the Cabinet or an
Overview and Scrutiny Committee.
The Committee has the right of access to all the information it
considers necessary in connection with the work of the Committee
and may consult directly with Internal and External
Auditors.
Terms of
Reference
1.1
To approve a Statement of Purpose for the Audit
Committee having regard to best practice including any Codes
published by CIPFA and SOLACE.
1.2
To ensure that the Council has a sound system of
internal control which —
(a)
facilitates the effective exercise of its functions
and the achievement of its aims and objectives;
(b)
ensures that the financial and operational
management of the Council is effective; and
(c)
includes
effective arrangements for the management of
risk.
1.3
To monitor arrangements for discharging the
Council’s responsibilities for efficient and effective
financial and operational resource management. In pursuing this
aim, it will consider:-
(a)
the soundness, adequacy and application of
controls;
(b)
compliance with policies, procedures and statutory
requirements;
(c)
arrangements for safeguarding the Council’s
assets and interests;
(d)
the integrity and reliability of management
information and financial records; and
(e)
the economic, efficient and effective use of resources.
1.4
To manage, steer, monitor and review all matters
relating to Internal and External Audit; to approve Internal and
External Audit plans; and to receive the Internal Audit Annual
Report.
1.5
To receive and consider all scheduled outputs from
the External Auditor’s work, including the annual Audit
Letter.
1.6
To consider periodically (at least annually) whether
the Auditors appointed to carry out the External Audit function
remain independent and objective and, that their judgement in
carrying out that role has not been impaired as a consequence of
their participation in any non-audit reviews, services or advice
provided to the Council.
1.7
To receive and review the findings of both Internal
and External Audit examinations; ensure that management takes
appropriate action to implement agreed recommendations; and remedy
any internal accounting, organisational or operational control
weaknesses identified.
1.8
To review the effectiveness of the systems of
internal control annually and approve the Annual Control Assurance
Statement and the Annual Governance Statement.
1.9
To review compliance with public sector financial
and audit standards and guidance, in accordance with the CIPFA
Codes and the Accounts and Audit Regulations 2015.
1.10
To review and comment upon liaison arrangements
between Internal and External Audit with a view to optimising the
effective deployment of audit resources.
1.11
To evaluate the adequacy and effectiveness of the
Council’s financial and operational policies and procedures
including financial and accounting management and the management of
risk through discussions with the External Auditors, Internal
Auditors and appropriate Officers.
1.12
To consider and endorse amendments to the
Council’s Financial Regulations and Contract Procedure Rules
and, on behalf of Full Council, give instructions to the Chief
Finance Officer as may be appropriate.
1.13
To approve the Annual Statement of
Accounts.
1.14
To prepare an Annual Report to Full Council setting
out the Committee’s work and performance during the year and to refer to Council any matters
it shall see fit.
1.15
To review any issue referred to it by the Chief
Executive, Chief Finance Officer, Monitoring Officer or any Council
body.
1.16
To consider reports from and matters raised by the
Local Government and Social Care Ombudsman.
1.17
With the Monitoring Officer to monitor and review
the operation of the Constitution to ensure the aims and principles
of the Constitution are given full
effect.
1.18
To undertake an annual review of the Council’s
use of the Regulation of Investigatory Powers Act 2000 (RIPA),
ensuring compliance with the relevant Codes of Practice.
1.19
With the exception of those parts of the
Constitution which are assigned specifically to
the Council Business Committee, to consider and propose to
Council any other amendments to the Constitution as
necessary.
1.20
To appoint an Audit Panel to make arrangements
relating to the appointment of the Council’s External Auditor
under the provisions of the Local Audit and Accountability Act
2014, unless the External Auditor is
appointed through Public Sector Audit and Accounts
Ltd.