The purpose of the Audit Committee is to support the Management Board to ensure a financially sound and efficient organisation, which makes full and effective use of resources in support of DFID objectives.
The Audit Committee met on 21 January 2011 to discuss:
The Audit Committee confirmed that it was content with the plan and welcomed the proposed assessment of financial aid.
IA is on track to deliver the current work plan and confirmed that, on the implementation of agreed actions, no critical actions remained open.
NAO confirmed audits were progressing as planned and nothing of significance had come out of the Resource Accounts interim audit.
Progress on actions to address previously raised recommendations from NAO and IA was noted and it was agreed that guidance would be produced around the operational capacity of partners.
The Committee considered the proposed template for this year’s process and confirmed that, while there were points to reflect upon, they were comfortable with this.
DFID’s readiness for the act and communication of key aspects of the Act were discussed. The Committee recommended that staff should be made fully aware of their personal responsibilities and requested an update on progress at the next Committee meeting.
The Committee provided comments and advice on the progress so far and requested an update at the next Committee meeting
This was considered by the Committee. Suggested improvements to add more meaning to the residual ratings were discussed.
Current key issues within finance were summarised including the outcome of the Spending Review, publication of project documentation and the current review of the Axis programme.
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