Issue - meetings

Audit and Risk Committee - Terms of Reference

Meeting: 11/03/2019 - Audit and Risk Committee (Item 12)

12 Audit and Risk Committee - Terms of Reference pdf icon PDF 314 KB

[To review the terms of reference for the Committee in line with recognised best practice]

 

Minutes:

Peter Farrow, Head of Audit presented for review and approval revised terms of reference for the Committee.  The terms of reference had been updated to incorporate five new additions to model terms of reference provided by the Chartered Institute for Public Finance and Accountancy (CIPFA) in their latest 2018 edition of ‘Practical Guidance for Local Authority Audit Committees’.  The Head of Audit reported that over the next 12 months consideration would be given to where the five new areas in the terms of reference could be extended. However, it was pleasing to note that of the new additions, the Committee had for the last four years been producing an annual report on its work, which the Chair presented to Full Council.  It was also part way there on reviewing the governance and assurance arrangements for significant partnerships or collaborations.  During 2018 it had received reports on the role of the West Midlands Combined Authority’s Audit, Risk and Assurance Committee and on the role of Wolverhampton Homes’ Audit and Service Delivery Committee.

 

Resolved:

That the updated terms of reference be approved.