Audit Committee ToR - NHS North Somerset

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5.2.3 consideration of the major findings of internal audit work(and management’s response),and ensure co-ordinationbetween the Internal and External Auditors to optimiseaudit resources5.2.4 ensuring that the Internal Audit function is adequatelyresourced and has appropriate standing within theorganisation5.2.5 annual review of the effectiveness of internal audit5.3 External AuditThe Committee shall review the work and findings of theExternal Auditor appointed by the Audit Commission andconsider the implications and management’s responses to theirwork. This will be achieved by:5.3.1 consideration of the appointment and performance of theExternal Auditor, as far as the Audit Commission’s rulespermit5.3.2 discussion and agreement with the External Auditor,before the audit commences, of the nature and scope ofthe audit as set out in the Annual Plan, and ensurecoordination, as appropriate, with other External Auditorsin the local health economy5.3.3 discussion with the External Auditors of their localevaluation of audit risks and assessment of theAuthority/Trust/PCT and associated impact on the auditfee5.3.4 review all External Audit reports, including agreement ofthe annual audit letter before submission to the Boardand any work carried outside the annual audit plan,together with the appropriateness of managementresponses5.4 Other Assurance FunctionsThe Audit Committee shall review the findings of othersignificant assurance functions, both internal and external to theorganisation, and consider the implications to the governance ofthe organisation.These will include, but will not be limited to, any reviews byDepartment of Health Arms Length Bodies orRegulators/Inspectors (e.g. Care Quality Commission, NHSLitigation Authority, etc.), professional bodies with responsibilityPage 6 of 8
for the performance of staff or functions (e.g. Royal Colleges,accreditation bodies, etc.)In addition, the Committee will review the work of othercommittees within the organisation, whose work can providerelevant assurance to the Audit Committee’s own scope of work.This will particularly include the Integrated GovernanceCommittee but it will not involve duplicating the work alreadydone by that board sub committee.In reviewing the work of the Integrated Governance Committee,and issues around clinical risk management, the AuditCommittee will wish to satisfy themselves on the assurance thatcan be gained from the clinical audit function.5.5 ManagementThe Committee shall request and review reports and positiveassurances from directors and managers on the overallarrangements for governance, risk management and internalcontrol.They may also request specific reports from individual functionswithin the organisation (e.g. clinical audit) as they may beappropriate to the overall arrangements.5.6 Financial ReportingThe Audit Committee shall review the Annual Report andFinancial Statements before submission to the Board, focusingparticularly on:5.6.1 the wording in the Statement on Internal Control andother disclosures relevant to the Terms of Reference ofthe Committee5.6.2 changes in, and compliance with, accounting policiesand practices5.6.3 unadjusted mis-statements in the financial statements5.6.4 major judgemental areas5.6.5 significant adjustments resulting from the auditThe Audit Committee will also ensure that the systems forfinancial reporting to the Board, including those of budgetarycontrol, are subject to review as to completeness and accuracyof the information provided to the Board.Page 7 of 8
Page 1 and 2: Appendix 3Audit CommitteeTerms of R
Page 3 and 4: 4.3 Vice ChairThe Vice Chair shall
Page 5: In particular, the Committee will r

Audit Committee ToR - NHS North Somerset

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