As well as the general responsibilities noted above, the postholder will Chair the Audit Committee. The purpose of the Committee is to independently and objectively:
1. Review the integrity of the Trust's financial statements.
2. Oversee compliance with corporate governance standards and assurance processes across clinical and non-clinical activities.
3. Assist the Board of Directors in its oversight of risk management and the effectiveness of internal control Trust-wide.
4. Oversee external and internal audit functions and the local counter fraud service, receiving assurance of their independence.
This Committee is responsible for:
1. Integrated governance
2. Internal audit
3. External audit
4. Financial reporting
5. Risk management and internal control
6. Counter fraud and security management
7. Other assurance functions
The postholder will also be required to:
1. Bring independent financial acumen to the work of the Audit Committee across its governance, risk management, assurance and internal control functions.
2. Escalate any areas to the Trust Board within the Committee's responsibilities that have inadequate assurance or require further mitigations.
3. Recommend the Annual Report, Accounts and Annual Governance Statement on behalf of the Committee for Trust Board sign off, once content that the documents present a fair and accurate view.
4. Work effectively with internal and external auditors and counter fraud specialists to ensure comprehensive oversight of the Trust's financial activity.
5. Be assured that the systems of internal control and governance are properly established and maintained.
6. Be satisfied that financial information is accurate and that financial controls and risk management systems are robust.
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