Audit Committee ToR - NHS North Somerset

In particular, the Committee will review the adequacy of:5.1.1 all risk and control related disclosure statements (inparticular the Statement on Internal Control) together withany accompanying Head of Internal Audit statement,external audit opinion or other appropriate independentassurances, prior to endorsement by the Board5.1.2 the underlying assurance processes that indicate thedegree of the achievement of corporate objectives, theeffectiveness of the management of principal risks andthe appropriateness of the above disclosure statements5.1.3 the policies for ensuring compliance with relevantregulatory, legal and code of conduct requirements5.1.4 the policies and procedures for all work related to fraudand corruption as set out in Secretary of State Directionsand as required by the Counter Fraud and SecurityManagement ServiceIn carrying out this work, the Committee will primarily utilise thework of Internal Audit, External Audit and other assurancefunctions, but will not be limited to these audit functions. It willalso seek reports and assurances from directors and managersas appropriate, concentrating on the overarching systems ofintegrated governance, risk management, and internal control,together with indicators of their effectiveness.This will be evidenced through the Committee’s use of aneffective Assurance Framework to guide its work and that of theaudit and assurance functions that report to it.5.2 Internal AuditThe Committee shall ensure that there is an effective internalaudit function established by management that meetsmandatory NHS Internal Audit Standards and providesappropriate independent assurance to the Audit Committee,Chief Executive, and Board. This will be achieved by:5.2.1 consideration of the provision of the Internal Auditservice, the cost of the audit and any questions ofresignation and dismissal5.2.2 review and approval of the Internal Audit strategy,operational plan and more detailed programme of work,ensuring that this is consistent with the audit needs of theorganisation as identified in the Assurance FrameworkPage 5 of 8