The Audit Committee is made up of 6
Councillors who are not Members of the Executive. An independent
co-opted member is also appointed to the Committee as the
Vice-Chair.
The
Committee is a key component of the Authority’s corporate
governance. It provides an independent
and high-level focus on the audit, assurance and reporting
arrangements that underpin good governance and financial
standards.
The purpose
of the Committee is to provide independent assurance to the Members
of the Authority of the adequacy of the risk management framework
and the associated internal control environment. It provides independent review of the
Authority’s governance, risk management, and control
frameworks and oversees the financial reporting and annual
governance processes. It oversees
internal audit and external audit, helping to ensure efficient and
effective assurance arrangements are in place.
More information on the terms of reference
and responsibilities of the Audit Committee can be found
in Part
3 of the Council’s Constitution.