Agenda item

Report of the Chamberlain.

The Committee considered a report of the Chamberlain concerning a blueprint for how Internal Audit will operate and allows the governing body to clearly signal the value it places on the independence of Internal Audit.

The following points were noted:

• The content of the charter was almost a direct lift from the global internal audit standards with some adaptations for public sector requirements.
• The Committee is confirming the authority of internal audit by approving the charter.
• There was a discussion on whether the Committee, on behalf of the Common Council, was authorising internal audit to use whatever resources and speak with any departments within the organisation.
• It was noted that there were some limits to the resources, but the power should be used wisely.
• There were questions about who approves the mandate for internal audit and who oversees its implementation.
• It was clarified that there are no fundamental changes in emphasis, and the implementation oversight question would be taken away for further clarification.
• The Committee agreed to approve the charter subject to the clarifications being provided via email.

RESOLVED – That Members, in accordance with the requirements of the Global Internal Audit Standards, approve the Internal Audit Charter.