Appointment To:
Audit & Risk Committee
Location:
Church House, Great Smith Street, London SW1P 3AZ
(Although remote meetings – technology is now used)
Background
The statutory objective of the Archbishops’ Council, to which each of its 19 members contributes, is to co-ordinate, promote, aid and further the work and mission of the Church of England.
The Archbishops’ Council has seven objectives.
- A Younger Church: To double the number of children and young active disciples in the Church of England by 2030.
- A More Diverse Church: To fully represent the communities we serve in age and diversity.
- Revitalise Parishes: A parish system revitalised for mission so churches can reach and serve everyone in their community.
- New Christian Communities: Creating 10,000 new Christian communities across the four areas of home, work / education, social and digital.
- Missionary Disciples: All Anglicans envisioned, resourced, and released to live out the five marks of mission in the whole of life, bringing transformation to the Church and world. All local churches, supported by their dioceses, becoming communities and hubs for initial and ongoing formation.
- Sustainability: A Church that cherishes God’s creation and leads by example in promoting sustainability.
- Safety and Dignity: A Church that affirms the dignity of all people by being a safe place for all, especially children and vulnerable adults.
Audit & Risk Committee
The functions of the Audit & Risk Committee are:
- To oversee the discharge of the Archbishops’ Council’s responsibilities relating to the form, content and audit of its annual report and financial statements (as set out in the appropriate statements of auditing and accounting standards), its governance, its risk management and internal control systems and its internal audit and to report to the Archbishops’ Council thereon (normally by the submission of an annual report) with recommendations as appropriate.
- In relation to the external auditor, to consider the appointment, the audit fee and any questions of rotation, resignation or dismissal, and to make recommendations to the Archbishops’ Council as appropriate.
- To discuss with the external auditors before the audit begins the nature and scope of the audit, to review their arrangements for assuring independence and objectivity and the effectiveness of the audit process.
- To review the annual financial statements and trustees’ report with particular reference to: (i) significant accounting policies, any changes to them and any significant estimates and judgements; (ii) the significant financial reporting issues and judgements made in connection with the preparation of the financial statements; (iii) the clarity and completeness of disclosures in the financial statements and consideration of whether the disclosures are set properly in context; (iv) any significant adjustments resulting from the audit; (v) compliance with accounting standards; (vi) compliance with legal requirements; and to make recommendations on their adoption to the Archbishops’ Council as appropriate.
- To keep under review the effectiveness of governance, risk management internal control systems and in particular: (i) to review the external auditor’s recommendations and the management response; (ii) to review internal audit reports and the management response; and (iii) to review the risk management process.
- To monitor the internal audit function and in particular agree with the internal auditors their strategic approach to the provision of independent assurance and their annual plans.
- To consider representations which may be made to the Audit & Risk Committee by members of the Archbishops’ Council, members of the Archbishops’ Council’s staff, General Synod members or other persons.
- To liaise from time to time with the Audit & Risk Committees of the Church Commissioners and the Church of England Pensions Board to discuss issues of mutual concern.
- To consider cross-National Church Institution governance, risk management and internal control issues.
- To consider such other matters as either the Audit & Risk Committee or the Archbishops’ Council may from time to time consider appropriate.
- To publish each year a report on the discharge of its functions which shall be laid before the Archbishops’ Council and the July Group of Sessions of General Synod.
The Audit & Risk Committee consists of a Chair and five other members.
The Chair is appointed by the Archbishops’ Council from amongst its membership. The other members of the Audit & Risk Committee consist of:
- Two persons, who need not be members of the Archbishops’ Council or the General Synod, appointed by the Appointments Committee (these are the roles being recruited here).
- One person appointed by the Archbishops’ Council from amongst the membership of the Archbishops’ Council.
- Two General Synod members elected by the General Synod who shall not be members of the Archbishops’ Council or its Finance Committee.
Draft legislation currently before the General Synod would reform the governance of the National Church Institutions. This includes replacing the Archbishops’ Council with Church of England National Services. More information is available here National Church Governance Measure Supporting Policy.
The Committee meets for half a day usually three times each year – these meetings typically happen in London, although arrangements are made for members to join meetings virtually. There may be a need for an additional meeting in connection with signing-off on the annual accounts. Preparation for a meeting will usually involve up to half a day’s reading.