Audit Committee To Look At Council’s Financial Controls

The Council’s Audit Committee will meet on December 19th to will consider three reports relating to the Council’s governance arrangements.

The Audit Committee is a statutory committee which is required to review and report on the council’s financial affairs, risk management, internal control and corporate governance arrangements.

The Audit Committee will review Internal Audit’s activities for the period April to November 2013. This is an important function of the Committee as it receives independent assurance that the Council’s controls are effective. The Audit Committee will question any areas where the audit results show that this is not the case.

Councillor Paul Blackwell, Chair of the Audit Committee, said that: “Internal Audit provides the Audit Committee with independent assurance that controls are effective. Where they are not, the Audit Committee can take further action including calling senior officers and Councillors to account.”

The Audit Committee will also review the Council’s principal risks and the system for identifying and managing risks.

Councillor Paul Blackwell, said: “It is essential that the Council acts responsibly and understands the main risks to it meeting its corporate objectives and responsibilities.

“This is best practice across all organisations whether they are public or private sector. The Audit Committee seeks to ensure that processes are in place to ensure that these risks are identified correctly and that suitable actions are being taken to reduce the chances of the risks occurring or to lessen their impact.”