North East Museums Finance, Audit and Risk Committee

The North East Museums Finance, Audit and Risk Committee is independent from the Strategic Board. It was established in 2006 and provides independent assurance on the adequacy of the risk management framework and the associated governance and control environment, independent scrutiny of North East Museums financial and non-financial performance to the extent that it affects the North East Museums exposure to risk and weakens the control environment, and oversees the financial reporting process. The Finance, Audit and Risk Committee has an independent chair and vice-chair, who were appointed following the publication of a statutory notice. The appointment is for a four year period, with the option to renew for a further four years. The scope of the Finance, Audit and Risk Committee's work is defined in its Terms of Reference and encompasses all the assurance needs of the Strategic Board and the Director.