The Council shall consider and approve financial regulations drawn up by the Finance Committee and Responsible Financial Officer, which shall include detailed arrangements in respect of the following:
- the accounting records and systems of internal control;
- the assessment and management of financial risks faced by the Council;
- the work of the Internal Auditor and the receipt of regular reports from the Internal Auditor, which shall be required at least annually;
- the inspection and copying by Councillors and local electors of the Council’s accounts and/or orders of payments;
- procurement policies, including the setting of values for different procedures where the contract has an estimated value of less than £30,000 excluding VAT.
- the terms of reference for the committee can be found here
