The Board of Trustees’ Audit Committee has delegated responsibilities as listed below.

Membership of the Audit and Risk Committee

The current members of the committee are:

  • Peter McPartland OBE (Chair)
  • Alexander (Alex) Cameron
  • Rushmi Katyal
  • Maria Ouli

Responsibilities of the Audit and Risk Committee

External Audit

  1. To ensure the annual accounts are produced in accordance with the requirements of the Companies Act 1985, Charities SORP and the Academy Trust Handbook

  1. To assess the effectiveness and resources of the external auditor to provide a basis for decisions by the trust’s members about the auditor’s reappointment or dismissal or retendering
  1. To ensure that the Trust re-tenders its external audit contract at least every five years and oversee the re-tendering process.
  1. To ensure that the provision of any non-audit services does not impair the external auditors’ independence or objectivity
  1. To review the external auditor’s plan each year
  1. To ensure that the external auditor receives the fullest co-operation
  1. To receive from the external auditor the annual report and accounts and review directly with them their findings
  1. To review the external auditor’s annual management letter and all other reports and recommendations, together with the appropriateness of management’s response
  1. To produce an annual report of the committee’s conclusions to advise the board of trustees and members, including a review of the performance of the external auditor and recommendations on the reappointment or dismissal or retendering of the external auditor, and their remuneration.
  1. To monitor the implementation of action agreed by management in response to the external auditor’s annual management letter and all other reports and recommendations
  1. To review and consider the circumstances surrounding any resignation of the external auditor
  1. To draw any significant recommendations and matters of concern from external auditors promptly to the attention of the Trust Board

Internal Controls Evaluation

  1. To oversee the trust’s programme of internal scrutiny and report to the board on the adequacy of the trust’s, and its constituent academies’, internal control framework, including financial and non-financial controls and management of risks, assessing whether procedures are designed effectively and efficiently, and checking whether agreed procedures have been followed
  1. To agree a programme/scheme of work of internal scrutiny annually that provides coverage across the year, based on a review of the ratings and responses on the risk register, taking into account any changes to Trust size, complexity or risk profile to ensure that risks are being addressed appropriately, for instance providing greater scrutiny where procedures or systems have changed
  1. To consider who is most suitable to perform the work and recommend to the Trust Board the appointment/re-appointment of appropriate Internal Controls Evaluation auditors, ensuring those carrying out the programme of internal scrutiny work are suitably qualified and/or experienced, such as being members of a relevant professional body
  1. To keep under on-going review the Internal Controls Evaluation programme and ensure that the Internal Controls Evaluation function is adequately resourced and has appropriate standing within the Trust.
  1. To review the performance of the Internal Controls Evaluation auditor/s on an annual basis.
  1. To review at each meeting any reports and recommendations arising from the Internal Controls Evaluation programme of internal audits, together with the appropriateness of management’s response.
  1. To review the annual summary report/s from the internal auditor/s to the audit and risk committee for each year ended 31 August outlining the areas reviewed, key findings, recommendations and conclusions, to help the committee consider actions and assess year on year progress.
  1. To monitor the implementation of action agreed by management in response to reports from the Internal Controls Evaluation programme of internal audits.
  1. To draw any significant recommendations and matters of concern from internal auditors promptly to the attention of the Trust Board.
  1. To ensure information submitted to DfE and ESFA that affects funding, including pupil number returns and funding claims (for both revenue and capital grants) completed by the trust and (for trusts with multiple academies) by constituent academies, is accurate and in compliance with funding criteria.

Risk

  1. To review the Trust’s risk management strategy and its processes and procedures for the identification, assessment, evaluation, management and reporting of risks.
  1. To keep the Trust’s Risk Register under review, to ensure that all categories of risk, current and potential, are being adequately identified, reported and managed, with proposed mitigations, and to recommend to the main Board any amendments or additions.      
  1. To keep under review the Trust’s contingency and business continuity plans.
  1. To review the Trust’s policies and procedures for handling allegations of fraud, bribery and corruption.
  1. To keep under review the Trust’s policies and procedures for ensuring effective Cyber Security.
  1. To keep under review the effectiveness of the Trust’s arrangements for the auditing of Health and Safety policies and procedures.

General

  1. To consider outputs from any other assurance activities by third parties including ESFA financial management and governance reviews, funding audits and investigations and draw any significant recommendations and matters of concern from any such activities promptly to the attention of the Trust Board
  1. To review or investigate any other matters referred to the Committee by the Trust Board.
  1. To review all risk and control related disclosure statements, in particular the Trust’s annual “Statement on Internal Control”, together with any associated reports and opinions from management, the external auditor and Internal Controls Evaluation auditor/s, prior to endorsement by the Trust Board.