Audit Committee

The Committee will:

1. In relation to Internal and External Audit

i. Approve the terms of reference for Internal Audit.
ii. Approve the Internal Audit Strategy, Strategic and Annual Plans and reporting to the Authority on whether adequate resources are available to enable the plans to be achieved.
iii. Review the actual Internal Audit coverage in line with the approved Plans.
iv. Consider significant Internal Audit reports in detail and monitor whether appropriate action has been taken in respect of key recommendations.
v. Review the performance of Internal Audit against relevant performance indicators.
vi.Receive periodic Internal Audit Activities reports and the Annual Internal Audit report and opinion.
vii. Review arrangements made for co-operation between Internal Audit, External Audit and other review bodies.
viii. To appoint External Auditors to carry out the statutory role.
ix. To consider the External Audit Annual Letter and monitor the Authority’s response.
x. Review and consider External Audit fees, External Audit planned coverage and its adequacy.
xi. Receive updates from External Audit on their findings or opinions and the adequacy of management response to the External Audit advice, recommendations and action plans.
xii. To monitor the results of external reviews of the Authority’s services, ensuring progress is made on actions planned to remedy any significant issues highlighted.
xii. To consider proposals of government departments and other national or regional bodies which would affect the role of the Audit Committee and approve responses to such proposals where possible.

2. In relation to Corporate Governance

i. Receive and consider an annual report evaluating the adequacy of application of the Authority’s local code of corporate governance (as per the CIPFA/SOLACE framework).
ii. Receive periodic updates on improvement actions identified as necessary to improve corporate governance arrangements.
iii. Monitor levels of training and awareness on governance issues.
iv.Review compliance with the relevant Codes of Conduct, ensuring procedures are in place to demonstrate consistency and appropriate responses.
v.Exercise delegated power in relation to the approval of the annual Statement of Accounts.
vi.Consider and make recommendations to the Authority on:
(a) The Standing Orders and Financial Regulations of the Authority.
(b)The Authority's Committee structure, terms of reference and delegation of powers of Committees.

3. In relation to Risk Management

i. Review the adequacy of arrangements for identifying and managing the Authority's business risks – including the implementation of operational Risk Management arrangements.
ii. To receive and consider regular reports on the business risk environment and associated management action.

4. In relation to Internal Control Arrangements and the Annual Governance Statement

To exercise delegated power in relation to the consideration of the Annual Governance Statement, the procedures followed in its compilation and the appropriateness of supporting documentation, addressing any significant governance weaknesses disclosed within the statement.

5. In relation to Anti-Fraud & Corruption Arrangements

i. To formulate and approve policy documentation in respect of Anti-Fraud and Corruption processes and ensure the adequacy and the effectiveness of their application throughout the Authority.
ii.To review and ensure that adequate arrangements are established and operating to deal with situations of suspected or actual wrongdoing, fraud and corruption.

i. The Committee will comprise 10 Members.

ii. In accordance with the requirements of the Local Government and Housing Act 1989, political balance will apply.

iii. The Chair, Vice-Chair, outgoing Chair of the Authority and Chair of the Policy & Resources Committee are not eligible to serve on the Audit Committee.

iv. The quorum of the Committee will be 4 Members.

Substitution

i. A Member of the Committee, who is unable to attend a meeting of the Committee, may propose another Member of the Authority to take their place at that meeting and act as their substitute.  The substitute may be a Member of any political group.

ii. The substitute Member shall remain a Member of the Committee for the duration of the meeting and shall be entitled to vote and assume all of the responsibilities of the named Member.

Reporting Arrangements

i. The Committee will report to the Authority and have clear access to other committees and functions.

i. The Committee will meet quarterly.

ii. The Committee Chair will report proceedings of the Committee to the Authority.

iii. The minutes and reports of the Committee will be available for public inspection, except those documents classified as exempt.

iv. The Committee will be advised by the Chief Fire Officer, Treasurer, Monitoring Officer and other officers and advisors as necessary.

v. Meetings will normally be held in public, with the right of attendance for all Members, public and press, except during consideration of exempt business.

vi. An agenda, together with reports, will be made available at least five clear working days before each formal meeting.