Issue - meetings

RECOMMENDED:  1)         That the updated Terms of Reference for the Audit Committee be adopted.

2)         These terms of reference replace the current Terms of Reference in Part 3 of the Constitution and SO29 be amended to include reference to up to 2 Independent co-opted Members.

Reason for Decision

To enable the Audit Committee to continue to fulfil its role as required by the Accounts and Audit Regulations 2015 and in accordance with the latest guidelines provided by CIPFA.

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Cabinet considered a report which explained that the Audit Committee was established in 2006, with Terms of Reference (ToR) drawn up in line with the guidance from the Chartered Institute of Public Finance and Accountancy (CIPFA).  The ToR should be reviewed every three years by the Committee and any updates presented to Cabinet and Council for approval and incorporation into the constitution.

Officers had reviewed the ToR and produced a draft updated version of the ToR, taking account of:

• CIPFA position statement 2022: Audit Committees in Local Authorities and Police
• The amended ToR had been presented to Audit Committee on 3^rd October 2024 and supported by it.

RECOMMENDED:  1)         That the updated Terms of Reference for the Audit Committee be adopted.

2)         These terms of reference replace the current Terms of Reference in Part 3 of the Constitution and SO29 be amended to include reference to up to 2 Independent co-opted Members.

Reason for Decision

To enable the Audit Committee to continue to fulfil its role as required by the Accounts and Audit Regulations 2015 and in accordance with the latest guidelines provided by CIPFA.