Sub-committee of the Arts Council of Wales.
Terms of Reference
The Terms of Reference for Audit Committee are reviewed and approved by Council on an annual basis. The document provided here was last updated and approved by Council in February 2014.
Role of the Committee
- Arts Council of Wales is required, by the Welsh Government, to establish an Audit Committee in order to advise, and to provide assurance, on the adequacy of arrangements for internal audit, external audit and corporate governance.
Audit Committee is a committee of Council, to which it reports.
The Audit Committee should support the Council and Accounting Officer by reviewing the comprehensiveness and reliability of assurances on governance, risk management, the control environment and the integrity of financial statements and the annual report.
In particular, it is responsible for reviewing the systems of Internal Control within the Council’s risk management, control, governance, financial and other operations to help promote the highest standards of propriety in the use of public funds and encourage proper accountability for the use of those funds.
Additionally, the Committee is responsible for monitoring the work of both internal and external auditors, monitoring the Arts Council’s progress in implementing recommendations raised and advising Council on relevant issues.
In carrying out this work the Committee will primarily utilise the work of the Internal Audit, External Audit and other assurance functions, but will not be limited to these audit functions. It will also seek reports and assurances from directors and managers as appropriate, and is able to call officers to attend meetings when required..
Read the full Terms of Reference for the Audit Committee.