Audit and Risk

This committee keeps under review and advises on matters relating to the internal and external audit of the Authority. It also provides an opinion on the effectiveness of the monitoring processes and whether reliance can be placed upon all internal control systems. The quorum of the committee is half the Membership.

The next meeting for the Audit committee is on Tuesday 06 March 2018

Reporting

The Audit and Risk Committee will formally report in writing to the Authority after each meeting.

The Audit and Risk Committee will provide the Authority and Accounting Officer with an Annual Report, timed to support finalisation of the accounts and the Governance Statement, summarising its conclusions from the work it has done during the year.

Responsibilities

The Audit and Risk Committee will advise the Authority on:

  • the effectiveness of the BTPA and BTP’s plans for risk management and business continuity, including disaster recovery, and  strategic processes for risk, control and governance and the Governance Statement;
  • the accounting policies, the accounts, and the annual report, including the process for review of the accounts prior to submission for audit, levels of error identified, and management’s letter of representation to the external auditors;
  • the planned activity and results of both internal and external audit and HMIC;
  • adequacy of management’s response to issues identified by audit activity, including external audit’s management letter;
  • assurances relating to the corporate governance requirements for the organisation;
  • anti-fraud and corruption and whistleblowing processes
  • monitor and assess compliance with and performance against statutory duties

The Audit and Risk Committee may:

  • Approve the internal audit strategy
  • Approve the external audit strategy

 Milestones

  • Accounts and Governance Statement to the May meeting
  • Annual audit report to the May meeting
  • Annual health and safety opinion to the May meeting
  • Management Assurance Statement to March and September

Access

The Head of Internal Audit and the representative from the external audit will have free and confidential access to the Chair of the Audit and Risk Committee.

Meetings

The Audit and Risk Committee will meet at least 4 times a year.  The Chair of the Committee may convene additional meetings, as they deem necessary.