The purpose of this Committee is to:
(a)
ensure the Council’s financial affairs are
properly and efficiently conducted and;
(b)
review assurance as to the
adequacy of the risk management and governance framework and the
associated control environment.
The Governance and Audit Committee is responsible
for ensuring that:
(a)
risk management and internal
control systems are in place that are adequate for purpose and
effectively and efficiently operated,
(b)
the Council’s corporate
governance framework meets recommended practice, is embedded across
the whole Council and is operating throughout the year with no
significant lapses,
(c)
the Council’s Internal
Audit function is independent of the activities it audits, is
effective, has sufficient experience and expertise and the scope of
work to be carried out is appropriate,
(d)
the appointment and
remuneration of external auditors is approved in accordance with
relevant legislation and guidance, and the function is independent
and objective,
(e)
the external audit process is
effective, taking into account relevant professional and regulatory
requirements, and is undertaken in liaison with Internal
Audit,
(f)
the Council’s financial
statements (including the pension fund accounts) comply with
relevant legislation and guidance and the associated financial
reporting processes are effective,
(g)
any public statements in
relation to the Council’s financial performance are accurate
and the financial judgements contained within those statements are
sound,
(h)
accounting policies are
appropriately applied across the Council,
(i)
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, and
(j)
the Council monitors the
implementation of the Bribery Act policy to ensure that it is
followed at all times.