Annex H: Self-assessment checklist
|Role and remit
|Does the committee have written terms of reference?
|Do the terms of reference cover the core functions as identified in the SG Audit and Assurance Committee Handbook?
|Are the terms of reference approved by the Audit and Assurance Committee and reviewed periodically?
|Has the committee been provided with sufficient membership, authority and resources to perform its role effectively and independently?
|Does the body's governance statement mention the committee's establishment and its broad purpose?
|Does the committee periodically assess its own effectiveness?
|Membership, induction and training
|Has the membership of the committee been formally agreed by the management board and or Accountable Officer and a quorum set?
|Are members appointed for a fixed term?
|Does at least one of the committee members have a financial background?
|Are all members, including the Chair, independent of the Executive function?
|Are new committee members provided with an appropriate induction?
|Has each member formally declared his or her business interests?
|Are members sufficiently independent of the other key committees of the Board?
|Has the committee considered the arrangements for assessing the attendance and performance of each member?
|Does the committee meet regularly, at least four times a year?
|Do the terms of reference set out the frequency and broad timing of meetings?
|Does the committee calendar meet the body's business and governance needs, as well as the requirements of the financial reporting calendar?
|Are members attending meetings on a regular basis and if not, is appropriate action taken?
|Does the Accountable Officer attend all meetings and, if not, is he/she provided with a record of discussions?
|Does the committee have the benefit of attendance of appropriate officials at its meetings, including representatives from internal audit, external audit and finance?
|Does the committee consider the findings of annual reviews by internal audit and others, on the effectiveness of the arrangements for risk management, control and governance?
|Does the committee consider the findings of reviews on the effectiveness of the system of internal control?
|Does the committee have responsibility for review of the draft governance statement and does it consider it separately from the accounts?
|Does the committee consider how accurate and meaningful the governance statement is?
|Does the committee satisfy itself that the arrangements for risk management, control and governance have operated effectively throughout the reporting period?
|Has the committee considered how it should coordinate with other committees that may have responsibility for risk management and corporate governance?
|Has the committee satisfied itself that the body has adopted appropriate arrangements to counter and deal with fraud?
|Has the committee been made aware of the role of risk management in the preparation of the internal audit plan?
|Does the committee's terms of reference include oversight of the risk management process?
|Does the committee consider assurances provided by senior staff?
|Does the committee receive and consider stewardship reports from senior staff in key business areas such as Finance, HR and ICT?
|Financial reporting and regulatory matters
|Is the committee's role in the consideration of the annual accounts clearly defined?
|Does the committee consider, as appropriate:
|Is an committee meeting scheduled to receive the external auditor's report to those charged with governance including a discussion of proposed adjustments to the accounts and other issues arising from the audit?
|Does the committee review management's letter of representation?
|Does the committee gain an understanding of management's procedures for preparing the body's annual accounts?
|Does the committee have a mechanism to keep it aware of topical legal and regulatory issues?
|Does the Head of Internal Audit attend meetings of the committee?
|Does the committee consider, annually and in detail, the internal audit plan including consideration of whether the scope of internal audit work addresses the body's significant risks?
|Does internal audit have a direct reporting line, if required, to the committee?
|As well as an annual report from the Head of Internal Audit, does the committee receive progress reports from internal audit?
|Are outputs from follow-up audits by internal audit monitored by the committee and does the committee consider the adequacy of implementation of recommendations?
|If considered necessary, is the committee chair able to hold private discussions with the Head of Internal Audit?
|Is there appropriate co-operation between the internal and external auditors?
|Does the committee review the adequacy of internal audit staffing and other resources?
|Are internal audit performance measures monitored by the committee?
|Has the committee considered the information it wishes to receive from internal audit?
|Has the committee considered formal terms of reference defining internal audit's objectives, responsibilities, authority and reporting lines?
|Does the external audit representative attend meetings of the committee?
|Do the external auditors present and discuss their audit plans and strategy with the committee (recognising the statutory duties of external audit)?
|Does the committee chair hold periodic private discussions with the external auditor?
|Does the committee review the external auditor's annual report to those charged with governance?
|Does the committee ensure that officials are monitoring action taken to implement external audit recommendations?
|Are reports on the work of external audit presented to the Audit and Assurance Committee?
|Does the committee assess the performance of external audit?
|Does the committee consider the external audit fee?
|Does the committee have a designated secretariat?
|Are agenda papers circulated in advance of meetings to allow adequate preparation by committee members and attendees?
|Do reports to the committee communicate relevant information at the right frequency, time, and in a format that is effective?
|Does the committee issue guidelines and/or a pro forma concerning the format and content of the papers to be presented?
|Are minutes prepared and circulated promptly to the appropriate people, including all members of the Board?
|Is a report on matters arising presented or does the Chair raise them at the committee's next meeting?
|Do action points indicate who is to perform what and by when?
|Does the committee provide an effective annual report on its own activities?
|Does the committee effectively contribute to the overall control environment of the organisation?
|Are there any areas where the committee could improve upon its current level of effectiveness?
|Does the committee seek feedback on its performance from the Board and Accountable Officer?
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