St Helena : St Helena: New Chair of Audit Committee Appointed
Submitted by Saint Helena Herald (Public Relations Information Office) 12.12.2010 (Article Archived on 26.12.2010)
The role of the Audit Committee is to assist the Governor in fulfilling his constitutional responsibilities for ensuring strength and best practice in three fundamental Government areas:
New Chair of Audit Committee Appointed
The role of the Audit Committee is to assist the Governor in fulfilling his constitutional responsibilities for ensuring strength and best practice in three fundamental Government areas:
· Internal Control – to consider the effectiveness of SHG’s internal control system; to consider internal and external auditors’ reviews of internal control over financial reporting; and to obtain reports on significant findings and recommendations, together with management’s responses.
· Risk Management – to consider the effectiveness of SHG’s approach to corporate-wide Risk Management, including the Internal Auditor’s opinion and reports.
· Ethical Principles – insofar as they concern compliance with legal and regulatory requirements and the functioning of an anti-fraud and anti-corruption culture, including effective whistle-blowing arrangements. Under this heading, the Committee also reviews the process for communicating codes of conduct to SHG personnel and monitors compliance.
The committee also oversees the performance of the St Helena Government Internal Audit Office. This includes reviewing their charter, plans, activities, staffing and organisational structure, with the Head of Internal Audit Office.
The Committee reports at least annually to the Governor on all of the above. The report includes an annual assessment of the adequacy of the Committee Charter and an evaluation of the Committee’s own performance against its Charter.
Speaking of his appointment, Ernie said that he was very pleased to take on the role of Chair of the Audit Committee. He paid tribute to the work of his predecessor, Rob Jesson who had steered the Committee over the past two years and helped it to evolve to meet the changing needs of SHG. Appointing the Head of the Governor's Office (HOGO) as Chair would further raise the profile and standing of the Audit Committee, given that the HOGO reports directly to the Governor and that he will maintain the close links that have been established between the work of the Audit Committee and the Disaster Management Committee, which Ernie is also a member of.
Public Relations/Information Office
Office of the Chief Secretary
6 December 2010
|
