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Audit, Budget and Project Risk Monitoring Group Information
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Information about Audit, Budget and Project Risk Monitoring Group Information
The Audit, Budget and Project Risk Monitoring Group has been created to consider and have oversight of internal and external audit, capital and revenue budget monitoring and project risk to provide Members with confidence these are being managed effectively and efficiently. It will focus on the following areas:
Audit Monitoring
a. To be aware of the forthcoming years internal and external audit plan.
b. To consider reports from the internal and external auditor to understand the findings and any actions in advance of requesting Authority formally receive and agree the actions.
c. To have visibility of progress in implementing internal and external audit actions.
Budget Monitoring
a. To be aware of all capital and revenue expenditure and income compared to the projected budget.
b. To consider how any issues (under, overspend or income target issues) in the financial year are planned to be dealt with.
c. To be aware of project budget expenditure that a Committee approved and consider how any issues are planned to be dealt with.
Project Risk Monitoring
a. To have visibility of progress in implementing projects approved by Committee.
b. To be aware of risks and mitigation measures associated with projects that have been approved by Committee.
c. To consider any issues or movement of risks and mitigation measures for projects approved by Committee.
The Group will usually comprise a maximum of five Members, including the Chair and Vice Chair of Programmes and Resources and 3 other Members, who are appointed annually at the Annual Authority Meeting. Meetings of the Group will be arranged on a quarterly basis.
The Group does not make formal decisions however, it can make recommendations (which are agreed by a Group majority) to be considered by Authority or Programmes and Resources.
The Group can invite input and advice from officers and Members as appropriate to support the operation of the Group.
The full terms of reference for the Group can be viewed here