Issue - meetings

AUDIT COMMITTEE - Terms of Reference

Overview

The Audit Committee is a non-statutory committee independent of the council’s executive and scrutiny and it reports to full council. Its purpose is to provide independent assurance to the council in relation to:-

1. The effectiveness of the council’s governance arrangements, risk management framework and internal control environment including overseeing:

- risk management strategies

- anti-fraud arrangements

- whistle-blowing strategies

- internal and external audit activity;

2. The effectiveness of the council’s financial and non-financial

performance to the extent it affects exposure to risk and poor internal

control;

3. The annual governance statement;

4. The review and approval of the annual statement of accounts,

confirming the appropriate accounting policies have been followed,

including the external auditor’s report to those charged with governance

on issues arising from the audit of the accounts.

Functions

Full Council has delegated the following functions to the Audit Committee:

- Duty to review and consider the effectiveness of the council’s system

of internal control and approve the annual governance statement;

review and consider the effectiveness of the Council’s internal audit;

consider and approve the statement of accounts (Accounts and Audit

(England) Regulations 2011 S.I. 2011/817).

- Assist the council in its statutory duty to promote and maintain high

standards of conduct by members and co-opted members.

- Advise the council on the adoption or revision of the Code of Conduct

for Members and any associated codes or protocols and monitoring

their operation.

- Advise and training members on the Code of Conduct.

- Consider and determine any allegations of misconduct by a member of

council (which could be a breach of the code of conduct) if the

Monitoring Officer requests assistance.

- Consider nominations made by Group Whips for the conferring of the

title “Honorary Alderman” and “Honorary Alderwoman” and making

recommendations to Full Council thereon.

- To monitor the register of members interests.

- To advise and assist as required in the selection of the Lord Mayor.

- To grant dispensations pursuant to section 33(2) of the Localism Act

2011 where:

(i) without the dispensation, the representation of different political groups on the body transacting the business would be so upset as to alter the outcome of any vote on the matter.

(ii) that the authority considers that the dispensation is in the

interests of persons living in its area; or

(iii) where the Committee considers that it is otherwise

appropriate to grant a dispensation.

- Responsibility for ensuring effective scrutiny of the Councils’ Treasury Management Strategy and policies.

- Involvement in the appointment/dismissal of the Chief Internal Auditor.

- Involvement in monitoring the performance of the Chief Internal Auditor.

The Terms of Reference as approved at Full Council on 23 May, 2017, were noted. Members were informed that the ToR’s might be subject to change pending the review of the Council’s Constitution.