Audit and Risk Committee
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This Committee monitors budgets and the work of Internal Audit and is concerned with other matters such as risk management, financial control systems and the relationship with external audit.
The Committee:
- approves the Annual Statement of Accounts
- monitors the council's revenue budgets and capital programme
- approves Internal Audit's strategy, plan and performance
- monitors Internal Audit's work and the implementation of their recommendations
- considers the effectiveness of the authority's risk management arrangements, the control environment and associated anti-fraud and anti-corruption arrangements and seek assurances that action is being taken on risk related issues identified by auditors and inspectors
- ensures 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 promoted
- reviews the external auditor's opinion and reports to members, and monitor management action in response to the issues raised by external audit
- reviews the reports of inspection agencies
- approves and monitors the Code of Corporate Governance
- reviews and approves for publication the council's Annual Governance Statement
- reviews the Audit Charter and Terms of Reference annually
- reviews the assessment of fraud risks and potential harm to the council from fraud and corruption