The Audit
Committee is established to:
(a) provide an
independent and high-level focus on the audit, assurance and
reporting arrangements that underpin good governance and financial
standards
(b)
provide independent assurance to those charged with governance of
the adequacy of the risk management framework and the internal
control environment
(c)
provide independent review of the Council’s governance, risk
management and control frameworks
(d)
oversee the financial reporting and annual governance
processes.
(e)
oversee internal audit and external audit, helping to ensure
efficient and effective assurance arrangements are in
place
(f) consider assurance of the
Council’s financial and non-financial performance to the
extent that it affects the Council’s exposure to risk and
weakens the control environment including emphasis on:
·
Governance risks around high level
financial strategy and reserves
·
Governance risks connected to asset
realisation
·
Governance of Capital Programme and
projects
·
Value for Money and Delivering
Objectives
·
Governance of linked incorporated
bodies
The Committee is made up of 9 non-executive
councillors appointed to reflect the political balance of the
Council.