Issue - meetings

Report by Internal Audit Manager

In compliance with the Chartered Institute of Public Financial Accountants (CIPFA) guidance, a draft Terms of Reference (TOR) was presented to the Audit Committee in December 2008 for review.  The Committee decided that further amendments should be made and a report introducing an updated draft Terms of Reference was before the Committee for consideration.

Decision

To agree the draft Terms of Reference and request the Director of Corporate Services to pick these up during the forthcoming Review of Political Management Arrangements subject to the following amendments:-

a)                  Introductory paragraph to be reworded to read “The Committee’s Terms of Reference are generally to promote good internal control, financial management, risk, governance and performance management, in order to provide reasonable regulations, including the Council’s Financial and Security Regulations, Contract Standing Orders and accounting codes of practice”;

b)                  Under Audit Activity – bullet point 7 to read “to facilitate training to support the role of Audit Committee Members; and

c)                  Under Performance – bullet point 2 to read “to assess the effectiveness of the Council’s Performance Management System”.

(Reference: Report by Internal Audit Manager, submitted)