Compliance with International Auditing Standards
Meeting: 25/01/2011 - Audit and Governance Committee (Item 36)
36 Compliance with International Auditing Standards 
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In order to comply with International Standards on Auditing (UK and Ireland) the Council’s External Auditors (Audit Commission) require an understanding of how those charged with governance exercise oversight of management’s processes for identifying and reporting the risk of fraud and possible breaches of internal control in the Council (ISA 240).
The Audit and Governance Committee is the committee ‘charged with governance’ and the joint report of Head of Internal Audit & Compliance and Borough Treasurer & Head of Assets has been drafted in order to assist formally responding to the Audit Commission.
Minutes:
The Committee considered a report setting out a response to a request from the Council’s External Auditors, the Audit Commission, for information regarding management arrangements for identifying and reporting the risk of fraud and complying with relevant laws and regulations.
RESOLVED:
That it be noted that Appendix A of the report will form the basis of the written response to the Council’s External Auditors by the Chairman of the Audit and Governance Committee and the Borough Treasurer and Head of Assets.