Audit and assurance committee handbook

Annex E: Example Annual Core Work Programme

Standing items of business which should be routinely considered at each standard committee meeting:

• review performance relating to risk management
• consider any reports from Internal Audit and management responses
• consider financial reports, including relevant information about financial performance and achievement of financial targets
• consider any reports from other sources within the “three lines of assurance” integrated assurance framework

In addition, the following items are suggested as good practice aligned to business cycles for specific meetings throughout the year:

Spring Meeting

• review the Internal Audit charter / terms of reference, strategy and the periodic work plan for the coming financial year
• consider External Audit plans for the coming financial year

Summer Meeting

• review and consider the accounts for the financial year just finished
• consider (emerging) External Audit opinion for the financial year just finished
• review assurances provided by senior staff for the annual governance statement
• consider Internal Audit opinion for the financial year just finished
• consider an annual report on fraud and security
• advise the AO on signing the accounts and governance statement
• consider an annual report to the Board and AO

Autumn Meeting

• review the performance management arrangements adopted by the body including, where appropriate, the timetable for reviewing such arrangements
• consider the External Audit management letter for the previous financial year and the response to/implementation of any recommendations

Winter Meeting

• consider the committee's own effectiveness in its work
• review the committee's Terms of Reference