To provide independent assurance of the
adequacy of the risk management framework and the associated
control environment, independent scrutiny of the authority's
financial and non-financial performance to the extent that it
affects the authority's exposure to risk and weakens the control
environment and to oversee the financial reporting
To undertake the functions of an Audit
Committee in accordance with the CIPFA Statement on Audit
Committees in Local Authorities.
The Panel shall comprise a membership of 8
Members and is subject to the rules of political
The Panel shall be chaired by the Chair of
the Overview (Audit) Panel.
Terms of Reference
To overview the arrangements for internal
control (both financial and non-financial).
Consider the Annual Audit Letter from our
Approve (but not direct) both external and
internal audit's strategy, annual plans and monitor
Review summary internal audit reports and
the main issues arising and seek assurance that management action
has been taken where necessary.
Receive the annual report
and Head of Internal Audit opinion on the Council’s corporate
governance, risk management and internal control
Consider the reports of other regulators and
Consider the effectiveness of the
authority's risk management arrangements, the control environment
and associated anti-fraud and anti-corruption arrangements.
Seek assurances that action is being taken on risk related issues
identified by auditors and inspectors.
Be satisfied that the authority's assurance
statements, including the, properly reflect the risk environment
and any actions required to improve it.
To review existing and proposed
arrangements, recommend changes and receive assurance that the
systems of corporate governance are operating effectively and in
accordance with best practice.
Review and approval of
the annual Statement of Accounts, including the Annual Governance
Statement and related matters. Approval
of accounting policies and consideration of whether there are any
concerns arising from the financial statements or external audit
that need to be brought to the attention of the
Receive and consider the
external auditor’s report and opinion on the financial
Monitor action taken in
response to any matters raised in the external auditor’s
Monitor action taken in
response to any matters raised in the Annual Governance