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Internal Audit Charter 2016/17

Meeting: 21/03/2016 - Audit, Governance and Standards Committee (Item 70)

70 Internal Audit Charter 2016/17 pdf icon PDF 205 KB

Additional documents:

Minutes:

The Committee considered the report of the Head of Audit Partnership setting out the revised Internal Audit Charter 2016/17.

 

The Deputy Head of Audit Partnership presented the report and it was noted that:

 

·  The 2015/16 Charter was approved by the then Audit Committee in March 2015, and was scheduled to be reviewed and, if necessary, updated each year. 

 

·  In addition to typographical corrections and standardisation of terminology, more substantive amendments sought to build on supplemental guidance issued by the Institute of Internal Auditors acknowledging that Internal Audit services might often possess the skills, knowledge and expertise to successfully take up broader roles within an organisation, often referred to as “second line of defence” roles. 

 

·  At present Internal Audit did not occupy any roles that comprised “second line of defence” functions, but the revised Internal Audit Charter addressed the safeguards that would operate if the Audit Partnership were to play a more prominent role in risk management and counter fraud, including ownership of relevant corporate policies such as Whistleblowing.

 

·  The Head of Audit Partnership was satisfied that the Partnership currently operated with the required independence and freedom from interference and that it would continue to do so, subject to the described standards, in the event of it being asked to take on further responsibilities.

 

In response to questions, the Committee was informed that:

 

·  With regard to significant requests for advice, defined as those which required the purchase of additional resources or amendments to the agreed Audit Plan, the Head of Audit Partnership would consult with the Chairman and Members of the Audit, Governance and Standards Committee before accepting the engagement to ensure that they were satisfied that it represented an effective use of resources compared to other projects.  This was on the basis that it might not always be possible to wait until the next scheduled meeting of the Committee.

 

·  The purpose of the external assessment referred to in paragraph 43 of the revised Charter was to provide independent assurance that the Partnership was operating in accordance with the Public Sector Internal Audit Standards.  The most recent assessment was completed by the Institute of Internal Auditors in 2014 with the results reported to the then Audit Committee.

 

RESOLVED:

 

1.  That the Internal Audit Charter 2016/17, attached as Appendix II to the report of the Head of Audit Partnership, be approved.

 

2.  That the Audit Partnership’s view that the Partnership is operating with sufficient independence and freedom from managerial interference to fulfil its responsibilities in line with Public Sector Internal Audit Standards, and will continue to do so, be noted.

 


 

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