South Hams Audit and Governance Committee

Meetings of the Audit and Governance Committee consist of eight District Councillors who are appointed annually by Full Council.   The Committee meet four times a year, but can meet more often if needed.   The full list of functions and procedure rules for the Audit and Governance Committee can be found in the Constitution Delegation scheme (see Our Constitution). The main responsibilities of the Committee are:  

·        To review and approve the Annual Statement of Accounts

·        To consider the draft Annual Statement of Accounts; and

·        To agree the Internal Audit Work Plan       TERMS OF REFERENCE FOR THE AUDIT AND GOVERNANCE COMMITTEE   (a)    To be satisfied that the Council's Assurance Statements, including the Statement on Internal Control, properly reflect the risk environment and any actions required to improve it.   (b)    To agree the Council's Internal Audit Strategy Plan, Annual Audit Plan, Terms of Reference and Strategy, and monitor performance against all associated plans.   (c)    To review summary Internal Audit reports quarterly and the main issues arising and seek assurance that action has been taken where necessary.   (d)    To receive an Annual Report from the Chief Internal Auditor.   (e)    To ensure that there are effective relationships between External and Internal Audit, Inspection agencies and other relevant bodies, and that the value of the audit process is actively promoted.   (f)     To review financial statements, including approval of the Council's Statement of Accounts and Annual Governance Statement (AGS); to receive the External Auditor's opinion and reports to Members, and to monitor management action in response to the issues raised by External Audit.   (g)    Review, and scrutinise where necessary, the actions and judgements of Management, in relation to the Council's Statement of Accounts, paying particular attention to:   ? critical accounting policies and practices, and any changes to them; ? decisions requiring a major element of judgement; ? the extent to which the financial statements are affected by any unusual transactions in the year and how they are disclosed; ? significant adjustments resulting from the audit; and ? any material weakness in internal control reported by the Internal or External Auditor   (h)    Consider other reports of External Audit and inspection agencies, which are relevant to the functions of the Committee.   (i)            To consider the effectiveness of the Council's Risk Management arrangements, the control environmental and associated anti-fraud and anti-corruption arrangements.   (j)     To receive risk management reports at least every six months and to seek assurances that action is being taken on risk related issues, identified by Auditors and Inspectors.   (k)    To consider performance and best value issues to the extent that they relate to the audit and control environment and risk management issues of the Council.   (l)     To oversee the Council’s arrangements to promote and maintain high standards of conduct by councillors by monitoring the operation of the code of conduct and advising the Council on any amendment or revision of the Code, and establishing any sub-committees required by those arrangements.   (m)   To review and consider the reports from the Chief Financial Officer (S151 Officer) on the treasury management function, including the Treasury Management Strategy, Half Yearly report and Annual report   (n)    To maintain an overview of the Council’s Constitution and to make recommendations to the Council   (o)    To monitor the counter fraud strategy, actions and resources, including review of the whistleblowing policy, anti-fraud and anti-corruption strategy and anti-money laundering policy.   (p)    To report, and make recommendations on any specific matters of audit, risk, the regulatory financial framework, accounting policies, governance or related matters as requested by the Leader, Executive or Council as appropriate.   (q)    To receive a report annually from the internal auditors on the test and monitoring of the code of Corporate Governance.