appointed the Governance and Audit Committee to ensure our
financial affairs are properly and efficiently conducted. None of
the members belongs to our Cabinet.
purpose of the Governance and Audit Committee is to:
1. ensure the
Council’s financial affairs are properly and efficiently
assurance as to the adequacy of the risk management and governance
framework and the associated control environment.
Objectives of the Committee
On behalf of the Council this
Committee will ensure the following outcomes:
Risk Management and Internal Control systems are in place that are
adequate for purpose and effectively and efficiently operated.
The Council’s Corporate Governance framework meets
recommended practice (currently set out in the CIPFA/SOLACE Good
Governance Framework), is embedded across the whole Council and is
operating throughout the year with no significant lapses.
The Council’s Internal Audit function is independent of the
activities it audits, is effective, has sufficient experience and
expertise and the scope of the work to be carried out is
The appointment and remuneration of External Auditors is approved
in accordance with relevant legislation and guidance, and the
function is independent and objective.
The External Audit process is effective, taking into account
relevant professional and regulatory requirements, and is
undertaken in liaison with Internal Audit.
The Council’s financial statements (including the Pension
Fund Accounts) comply with relevant legislation and guidance and
the associated financial reporting processes are effective.
Any public statements in relation to the Council’s financial
performance are accurate and the financial judgements contained
within those statements are sound.
Accounting policies are appropriately applied across the
The Council has a robust counter-fraud culture backed by well
designed and implemented controls and procedures which define the
roles of management and Internal Audit.
The Council monitors the implementation of the Bribery Act Policy
to ensure that it is followed at all times.
Ensure that there are effective governance arrangements in place
Council’s wholly owned limited companies and trading
Receive and review the annual financial statements and
dividend policies of any KCC limited companies and to consider
recommending corrective action where appropriate
Review the establishment of new limited companies before the
company commences trading and make recommendations to the
Governance and Audit Committee and responsible Cabinet Member where
appropriate in relation to:
The financial impact of the proposed company on Kent County