The Audit and Governance Committee has the following functions:
(a) assist the Council
and the Executive in the
development of the annual
Budget;
(b) approving the Council’s statement of accounts;
(c) consider the effectiveness of the council’s risk management arrangements, the control environment and associated anti-fraud and anti-corruption arrangements;
(d) seek assurances that action is being taken on risk-related issues identified by auditors and inspectors;
(e) be satisfied that the council’s assurance statements, including reviewing the Annual Governance Statement against the good governance framework, properly reflect the risk environment and any actions required to improve it;
(f) approve internal audit’s strategy, its plan and monitor its performance;
(g) approve the shared anti-fraud service strategy, its plan and monitor its performance;
(h) review summary internal audit reports and the main issues arising and seek assurance that action has been taken where necessary;
(i) consider the annual report of the head of internal audit;
(j) consider the reports of external audit (including the annual audit letter) and inspection agencies, and monitor management action in response to the issues raised;
(k) ensure that there are effective relationships between external and internal audit, inspection agencies and other relevant bodies and that the value of the audit process is actively promote;
(l) review the financial statements, external auditor’s opinion and reports to Members, and monitor management action in response to the issues raised by external audit; and
(m) have oversight of the council’s commercial projects
Audit function
As an integral part of its role as the council’s audit committee, undertake the following areas:
(a) consider budget monitoring reports and risk management reports;
(b) lead the cross Member scrutiny and consideration of the council’s draft annual budget and medium term finance strategy;
(c) scrutinise the council’s Annual Investment Strategy, Annual Capital Strategy, Mid-Year Treasury Management Report and Annual Treasury Management Report and through review gain assurance that systems of governance and control for Treasury Management are effective;
(d) where appropriate, assisting the Council and the Executive in the development of its budget and policy framework by in-depth analysis of financial, procurement and governance related policy issues;
(e) review anti-fraud and corruption controls and arrangements, including the whistleblowing process
Audit and Governance meetings are webcast here.
Support officer: Peter Mannings. Tel: (01279) 502174 Email: peter.mannings@eastherts.gov.uk