Committee details

Terms of Reference – Audit Committee

 

To have delegated powers to:

 

1.               Consider whether appropriate accounting policies have been followed in the Council’s annual statement of accounts and whether there are any concerns arising from the financial statements or from the audit that need to be brought to the attention of the Executive.

 

2.               Receive reports on the Council’s treasury and investment management policies, practices and activities, including an annual strategy and plan in advance of the year, a mid-year review and an annual report after its close in the form prescribed in the Council’s treasury management practices and the investment management practices.

 

3.   External Audit Functions

 

(a) Advise on the appointment of the Council's external auditor.

(b) Discuss with the external auditor the nature and scope of audit coverage, including value for money (VFM).

(c) Review external audit reports and annual audit letters, together with the management response, and make recommendations to the Executive.

(d) Examine any other concerns of the external auditors.

 

4.   Internal Audit Functions

 

(a) Monitor the progress and performance of internal audit.

(b) Review the internal audit annual plan.

(c) Consider significant findings of internal audit reviews and investigations, together with management responses, and monitor implementation of agreed recommendations

(d) Advise the Executive on the internal audit function, resourcing and standing

within the Council.

(e) Ensure co-ordination between internal and external auditors.

(f) Consider the Audit Manager's annual report and comment annually on the adequacy and effectiveness of internal audit control systems within the Council.

 

5.       Risk Management Functions and Business Continuity Functions

 

(a) Support and monitor the implementation and ongoing processes for identifying and managing key risks for the Council.

(b) Ensure that effective and proper processes and procedures are in place to ensure business continuity of the Council.

 

6.       Internal Control Functions

 

(a) Review the Annual Governance Statement, a statutory document, which explains the processes and procedures in place to enable the Council to carry out its functions effectively.

(b) Monitor the Council's compliance with its own published standards and controls and recommend any necessary changes to the Financial Procedure Rules and the Contract Procedure Rules.

 

7.  Corporate Governance

 

(a) Keep under review the Council's arrangements for corporate governance and propose any necessary actions to ensure compliance with best practice.

(b) Keep under review corporate policies such as the Whistleblowing Policy and Anti-fraud Strategy.

(c) Ensure that effective systems are in place to underpin the Council’s processes and ensure the highest standards in respect of audit and corporate governance matters.

(d) Maintain an overview of complaints handling and Ombudsman investigations.

(e) To exercise the Council’s functions in relation to the control of pollution or the management of air quality pursuant to the Pollution Prevention and Control Act 1999, Part IV of the Environment Act 1995, Part I of the Environmental Protection Act 1990, and the Clean Air Act 1993, including the determination of applications for variation of authorisations under sections 1031 and 1132 of the Environmental Protection Act 1990, and permits under the Regulation 17 of the Pollution Prevention and Control Regulations 2000, involving a substantial change.

 

8.    Reporting

 

To report to the Executive or to the Council, as appropriate, with findings and recommendations.

 

Quorum: 3