The committee oversees and directs internal scrutiny
You must have an audit and risk committee. If your trust's annual income is over £50 million, it must be a dedicated committee. Read more about the requirements of your committee in our article.
As an audit and risk committee, a key part of your role is to:
- Oversee and direct those who carry out internal scrutiny, without actually doing this work yourself
- Set the programme of work they follow, and receive reports
All trusts must have a programme of work (agreed annually) for internal scrutiny
This is to provide the board with independent assurance that the following are operating effectively:
- Financial controls
- Non-financial controls
- Risk management procedures
This is outlined in sections 3.1 to 3.8 of the Academy Trust Handbook (ATH).