The Committee is responsible for
monitoring the adequacy and effectiveness of the external audit of
the Authority’s services and functions and to: -
i)
Approve the nature and
scope of the external audit of the Authority’s services and
functions;
ii)
Consider external
audit reports;
iii)
Monitor the
Authority’s response to the external auditor’s findings
and the implementation of external audit
recommendations.
The Committee is also responsible for
monitoring the adequacy and effectiveness of the internal audit
arrangements and to: -
i)
Approve the annual
Internal Audit Plan;
ii)
Monitor progress
against the Plan through the receipt of periodic progress reports
and an annual Internal Audit Report;
iii)
Consider any internal
audit that provides less than substantial assurance and/or includes
any high or critical risk ratings;
iv)
Monitor the response
to Internal Audit Reports and the implementation of
recommendations.