Issue - meetings

To submit a joint report by the Head of Function (Resources)/Section 151 Officer and the Head of Function (Council Business)/Monitoring Officer.

It was resolved to recommend to the Full Council that the Audit and Governance Committee’s new draft Terms of Reference be adopted.

The report of the Head of Audit and Risk incorporating revised Terms of Reference for the Audit and Governance Committee was presented for the Executive’s consideration.

The Portfolio Member for Finance reported that it is good practice for committees to review their terms of reference for appropriateness - the Audit and Governance Committee last reviewed its terms of reference in May, 2015. In May, 2018 the Chartered Institute of Public Finance and Accountancy (CIPFA) fully revised and updated its guidance to take into account he legislative changes and professional developments that have affected the public sector. The new guidance updates the core functions of the audit committee with regard to governance, risk management, internal control and also updates the audit committee role in relation to counter fraud to reflect the Code of Practice on Managing the Risk of Fraud and Corruption. Members of the Audit and Governance Committee attended a workshop to discuss the updated guidance on 13 June, 2013 and have endorsed the updated Terms of Reference.

The Head of Function (Resources)/Section 151 Officer clarified that the CIPFA guidance has been mostly incorporated into the new terms of reference apart from the requirement that Full Council approves the appointment of the Committee’s lay members. Currently, the Audit and Governance Committee carries out this function and it is proposed that this arrangement should continue because of the risk that due to committee scheduling any delay in the appointment of the lay members until the meeting of the Full Council would mean that the Audit and Governance Committee could not meet which could affect the approval of the draft statement of the accounts in accordance with deadlines.

The Executive supported the proposal that the process whereby the Lay Members are appointed by the Audit and Governance Committee is retained; the Head of Function (Council Business)/Monitoring Officer confirmed that the proposal is legally acceptable.

It was resolved to recommend to the Full Council that the Audit and Governance Committee’s new draft Terms of Reference be adopted.