The Audit and Risk Assurance Committee (previously the Audit and Risk Committee, ARC) supports the Accounting Officer to monitor the risk, control and governance systems in the Commission.
The Board is supported and advised in its role by the Audit and Risk Committee. The membership of the Commission Audit and Risk Assurance Committee (ARAC) is independent of the Commission.
The purpose of the ARAC is to support the Accounting Officer in monitoring Commission risk, control and governance systems (including financial reporting) in the Commission. Additionally the Committee will give advice to the Accounting Officer on the adequacy of coverage of audit arrangements (internal and external) to provide the required assurances.
Membership of the ARAC is as follows:
ARAC meetings are normally attended by the Accounting Officer, the Head of Internal Audit, a Northern Ireland Audit Office (NIAO) representative, a representative from The Executive Office and members of the Secretariat. However, the ARAC may ask any other Commission officials to attend to assist it with its discussions on any particular matter.
The Commission provides regular reports to the ARAC on the annual Work Programme and risk management and assurance in the Commission.
On a quarterly basis the ARAC produces minutes, and on an annual basis produces a report on the work of ARAC throughout the year and on the main governance issues the Committee has considered. Each year ARAC conducts a self-assessment against the guidelines issued by the National Audit Office. The findings of the self assessment are presented to the ARAC for action as appropriate.
To view the Terms of Reference for the ARAC, contained within the CVS Scheme of Delegation, please click here.
To view the quarterly minutes and Annual Reports of the ARAC, please click here.