The Audit Committee Kilkenny County Council

Audit Committee Annual Report 2017.pdf (size 1.1 MB)

Download - The Audit Committee Charter signed.pdf (size 105.5 KB)

Download - Annual Report Signed & adopted 16 May 2016.pdf (size 1.1 MB)

Purpose

As part of the governance arrangements that operate within Kilkenny County Council, the audit committee has an independent role to advise the Council on financial reporting processes, internal control, risk management and audit matters.

Functions:

The functions of the audit committee are as prescribed by section 59 of the Local Government Act 2014:

2.1 To review the financial and budgetary reporting practices and procedures within the local authority:
This will incorporate a review and consideration of all aspects of the financial cycle within Kilkenny County Council from budget preparation and adoption, monitoring of income and expenditures through to the completion of the annual financial statements.
The audit committee may request reviews of financial management and reporting arrangements in addition to auditing existing financial policies, procedures and protocols as it considers necessary.

2.2 To foster the development of best practice in the performance by the local authority of its internal audit function:
Review with management and the internal auditor the charter, activities, staffing and organisational structure of the internal audit function, its compliance with relevant professional standards and bring any recommendations to the attention of the Chief Executive. In this regard, the Committee should ensure that no limitations are placed on the work of the internal audit unit.
Approve the audit plan and monitor its implementation
Review audit reports, findings and recommendations and management responses
Review, on an ongoing basis, the audit engagement process

2.3 To review any audited financial statement auditor's report or auditor's special report in relation to the local authority and assess any actions taken within that authority by its chief executive in response to such a statement or report, and report its findings to the authority:
Review with management and the external auditors the results of the statutory audit. Review with management and the external auditors the management letter and all
matters required to be communicated to the committee under generally accepted auditing standards.
Report to Council on its findings at the next practicable meeting of Council.

2.4 To assess and promote efficiency and value for money with respect to the local authority's performance of its functions:
Review management's arrangements to ensure and demonstrate economy, efficiency and effectiveness across the organisation.
Request special reports from management or internal audit as considered appropriate.

2.5 To review systems that are operated by the local authority for the management of risks: Evaluate the scope and effectiveness of the framework established by management to
identify, assess, monitor and effectively manage risk.
Review the corporate risk management policy and receive presentations from management on corporate, directorate, divisional and sectional risk registers.

2.6 To review the findings and recommendations of the National Oversight and Audit Commission (NOAC) and the response of the Chief Executive to these and take further action as appropriate:
Review the relevant findings of NOAC and ensure that its work programme takes NOAC's findings and recommendations into account.
Request special reports from management or internal audit as considered appropriate.

 


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