Audit Committee — Tower Hamlets

The Audit Committee is responsible for considering the Council’s arrangements for internal control, governance and financial management and recommending any actions accordingly. This includes:

• Audit Plans.

• Reports from external audit (such as the Annual Audit Letter and Governance Report).

• The Annual Governance Statement.

• Anti fraud and corruption initiatives.

• Authority’s Risk Management Arrangements.

• The administration of the Council’s financial affairs.

• Approving the Authority’s Statement of Accounts. The Audit Committee is made up of seven Members of the Council as appointed by Full Council. Political balance rules apply to the Committee. The quorum is 3 Members of the Committee. The Committee typically meets about four times a year at the Town Hall Mulberry Place and the meetings are open to the public to attend. A timetable for meeting dates and deadlines can be found here. The full terms of reference for the committee can be found in the Council Constitution (Part 3.3.11, of the Council’s Constitution, Responsibility for Functions) pgs 102-103.