Also the AC is Does the Committee consider the experience consulted on the h. and expertise of the internal audit team? recruitment of Y D/IOO Does the Committee monitor progress in the i. implementation of annual internal audit A continuous plans? Y process Does the Committee monitor whether j. internal audit is working to professional standards relevant to the Organization? Y Does the Committee monitor whether internal audit have the resources and right k. people with relevant expertise to carry out its remit? Y 1.3 Between Internal and External Does the Audit Committee monitor the a. effectiveness of relationships between internal and external auditors? Y Does the Committee consider whether internal and external auditors have b. communicated and coordinated their audit plans? Y Does the Committee consider whether c. external audit places reliance on the work of the internal auditor? Y Does the Committee discuss whether there d. are areas where joint working would be beneficial? Y Structure and Does the Committee consider whether all remit of IOO e. audit services are joined up, including does not present operational audits? N/A any issues Does the Committee expect internal and external auditors to communicate effectively f. with each other about understanding risks, their assessments of risk areas and how their work would cover these risk areas? Y Does the Committee communicate this g. expectation to internal and external auditors? Y Is the Committee satisfied by cooperation between the external and internal auditors as h. related to their annual plans and between them? Y 1.4 With External Does the Committee/its Chairperson have a. open lines of communication with the external auditor? Y Not expressly but open dialogue Does the Committee periodically obtain the maintained with b. views of external auditor on the work and External Audit, effectiveness of the Audit Committee? including an N annual closed
h. Does the Committee consider the experience and expertise of the internal audit team? Y Also the AC is consulted on the recruitment of D/IOO i. Does the Committee monitor progress in the implementation of annual internal audit plans? Y A continuous process j. Does the Committee monitor whether internal audit is working to professional standards relevant to the Organization? Y k. Does the Committee monitor whether internal audit have the resources and right people with relevant expertise to carry out its remit? Y 1.3 Between Internal and External a. Does the Audit Committee monitor the effectiveness of relationships between internal and external auditors? Y b. Does the Committee consider whether internal and external auditors have communicated and coordinated their audit plans? Y c. Does the Committee consider whether external audit places reliance on the work of the internal auditor? Y d. Does the Committee discuss whether there are areas where joint working would be beneficial? Y e. Does the Committee consider whether all audit services are joined up, including operational audits? N/A Structure and remit of IOO does not present any issues f. Does the Committee expect internal and external auditors to communicate effectively with each other about understanding risks, their assessments of risk areas and how their work would cover these risk areas? Y g. Does the Committee communicate this expectation to internal and external auditors? Y h. Is the Committee satisfied by cooperation between the external and internal auditors as related to their annual plans and between them? Y 1.4 With External a. Does the Committee/its Chairperson have open lines of communication with the external auditor? Y b. Does the Committee periodically obtain the views of external auditor on the work and effectiveness of the Audit Committee? N Not expressly but open dialogue maintained with External Audit, including an annual closed
EC-69-INF16-1(2)-REPORT-AUDIT-COMMITTEE_en.docx