To consider the report of the Audit Managers.
The Audit Manager (HP) presented the report, which provided Members with a definition of the Internal Audit and explained its function and requirement. The Charter needed to be reviewed and updated every two years to comply with the Public Sector Internal Audit Standard (PSIAS).
Members were informed that the internal audit charter was a formal document which outlined the internal audit activity’s purpose, authority and responsibility. It also established the internal audit activity’s position within the organisation; authorised relevant access rights and defined the scope of internal audit activities.
The charter had been presented to the Strategic Management Board to comment on. The Audit Manager summarised the main changes that had been made to the Charter which included; clarification over access to premises and document amendment the time within which internal audit final reports would be issued from 15 to 10 working days, from the time responses are received; and where an internal report contained actions for the Chief Finance Officer, a copy of the report being sent to the Chief Executive and Growth Director. She also confirmed that the final approval of the Internal Audit Charter Audit belonged to the Audit and Governance Committee.
RESOLVED that the Audit and Governance Committee approve the updated Internal Audit Charter.