Online Annual Review 2005/6

Work of the Audit Committee

The Committee’s activities in 2005/6 included:

• approving new ‘whistle blowing’ and fraud policies
• recommending improvements in internal procedures, such as disposal of fixed assets and control of sports and social and local office charity committee funds
• reviewing the membership, induction and training of Audit Committee members
• overseeing the development of risk management in Land Registry, via the Business Risk Board, including the procurement of new risk management software
• receiving regular progress reports from the Chair of the Business Risk Board highlighting any emerging risks and reporting on the strategic risk register activity
• regular reports from other areas of the business, such as single tender contracts and health and safety, to gain an assurance that proper processes were being adhered to
• agreeing and monitoring Internal Audit’s planned work and discussing outcomes of identified weaknesses
• approving annual accounts and Statement of Internal Control for annual report.

One of our Non-Executive Directors, David Rigney, was appointed as Chair of the Committee. We also appointed a new Non-Executive Member with a financial background, Vaughan Williams, solely to work on the Audit Committee. Vaughan is not a director, he is a member and he does not have any other Board responsibilities. Jan Smith, previous Non-Executive Director Chair, retired.