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Audit and Risk Committee

Audit and Risk Committee is a sub-committee of the Departmental Board. It supports the Departmental Board and the Permanent Secretary (as Departmental Accounting Officer) in their responsibilities for governance, risk management and control.

It has no delegated powers but acts on behalf of, and reports to the Departmental Board. This Committee meets quarterly.

Responsibilities

  •  To take a view on the nature and adequacy of assurances provided to the Accounting Officer on governance, risk management and control;
  • To consider how well the system of internal control is embedded in ACME planning, operational, monitoring and review activities;
  • To take a view on the adequacy of assurances provided by senior managers at mid-year and at the end of the financial year;
  • To review the adequacy of the risk management framework;
  • To maintain oversight of governance arrangements in ACME arm’s length bodies, including management of risks and adequacy of control;
  • To review the annual Statement on Internal Control;
  • To consider whether the ACME’s internal audit service meets Government standards, agreed levels of service and is adequately resourced;
  • To review the planned activity and results of external audit work by the National Audit Office; and
  • For both internal and external audit to review all reports (including PAC ones) and adequacy of management responses to audit findings.