The Board has an Audit Committee chaired by David Clement, other members being Ian McKay and Stephen McAnee.
In accordance with its terms of reference, the audit committee oversees financial reporting and the effectiveness of financial and regulatory compliance, controls and systems reporting. In addition, the committee monitors the effectiveness of the council’s internal audit function and reviews its material findings. The Audit Report highlighted concerns re the current IT system and the system was reviewed accordingly and a new Information Communication Technology policy was circulated to all staff and training was put in place. Additionally a new contract was agreed with the IT service provider.
The audit committee were satisfied that the internal audit report findings were implemented in the current year.
The audit committee formally met on three occasions during 2012/2013 and reviewed the risk register at each meeting and were satisfied that all risks were identified and corrective action taken where necessary.
The Committee also considered the new impact of NDPB status which was also highlighted in detail by the Department of Education representative who sits on the audit committee.