The purpose of
this Committee is to provide independent and high-level focus on
the adequacy of governance, risk, finance, and control
arrangements. Towards this purpose, its role is to:
a)
ensure there is sufficient assurance over governance risk and
control and provide reports to full Council on the effectiveness
and adequacy of these arrangements;
b)
have oversight of both internal and external audit together with
the financial and governance reports, helping to ensure that there
are adequate arrangements in place for both internal challenge and
public accountability,
c)
through a and b above, give greater confidence to all those charged
with governance for Kent County Council that its arrangements are
effective and reporting to full Council or other Committees as
necessary where the Committee has concerns that these arrangements
are not effective; and
d)
ensure that the County Council is sighted on the activity of the
Committee alongside the importance of financial probity, good
governance and learning lessons from audit activity through an
annual report.
The Governance and
Audit Committee is responsible for the following:
a)
monitoring the development and operation of the Council’s
corporate governance, financial, risk, and assurance frameworks and
arrangements to ensure it meets recommended practice, is embedded
across the whole Council and is operating consistently throughout
the year,
b)
monitoring the development and operation of the Council’s
Internal Audit function, including review of the internal audit
charter and annual audit plan, and reviewing assurances that it is
effective and independent of the activities it audits,
c)
oversight of the appointment and remuneration of external auditors
to ensure they are approved in accordance with relevant legislation
and guidance, and the function is independent and objective,
d)
monitoring the effectiveness of the external audit process, to help
ensure that it is of appropriate scope and depth, gives value for
money taking into account relevant professional and regulatory
requirements, and is undertaken in liaison with Internal Audit,
e)
considering the external auditor’s annual letter/report, and
any other specific reports by, and with the agreement of, the
external auditors,
f)
monitoring the arrangements and preparations for financial
reporting to ensure that statutory requirements and professional
standards can be met,
g)
receiving reports on the effectiveness of financial management
arrangements, including Productivity Plans, saving plans, and
compliance with the Financial Management Code,
h)
monitoring the Council’s arrangements to secure value for
money and reviewing assurances and assessments on the effectiveness
of these arrangements,
i)
considering reports on the effectiveness of internal controls and
monitor the implementation of agreed actions,
j)
reviewing assurances that accounting policies are appropriately
applied across the Council,
k)
monitoring the robustness of the Council’s counter-fraud
arrangements, including the assessment of fraud risks, and
reviewing assurances that the Council effectively monitors the
implementation of the whistle-blowing policy and Bribery Act
policy,
l)
reviewing assurances that the Council has appropriate governance
arrangements in place to manage the relationship between the
Council and significant partnerships or collaborations, as well as
any company in which the Council has majority control,
m)
reviewing assurances that the Council has appropriate arrangements
in place to ensure that the commercial opportunities and risks
presented through company ownership are managed effectively,
n)
oversight of the Executive’s shareholder strategy regarding
companies in which the Council has an interest,
o)
approval of Spending the Council’s Money, sending this
document to full Council for noting.
p)
review and approval of the Statement of Accounts, with related
reports, and the Annual Governance Statement, and
q)
reporting to full Council for assurance on the Accounts and Annual
Governance Statement approval.