Audit and Governance
The Committee ensures that:
- Effective audit functions are in place (both external and internal)
- Adequate risk management processes are in place
- An adequate internal control environment is established
- Financial management processes are operating effectively
- To consider all aspects of the external audit, including periodic tendering, appointment and remuneration of the external auditor; the nature and scope of the statutory audit; the recommendation of audited financial statements to the Board and the discussion of issues raised by the external auditor’s
- To review all reports prepared by the external auditor and agree on the programme of work proposed to address issues raised.