25 February 2018

Governance, Risk & Audit Committee Terms of Reference (Jan 2018)

1. to advise the Board on the effectiveness of the corporate governance structures, and to monitor and recommend to the Board action in respect of the effectiveness of the strategic arrangements for governance, risk management and audit. This includes making recommendations to the Board on its risk strategy and policies, as well as agreeing a programme of Board member training and development to satisfy corporate governance guidelines;
2. to monitor and recommend to the Board action in respect of the Board's management of corporate risk, including arrangements for business continuity and disaster recovery;
3. to provide assurance that the processes to manage risk are operating in accordance with the risk management framework, and to enable the Board in turn to provide assurances to the joint Audit Committee (of the Bar Council and the Bar Standards Board);
4. to consider the effectiveness of the Board's financial management and control systems, and internal business processes, including accounting policies, anti-fraud and whistle-blowing arrangements and recommend actions to the Board; and
5. to provide oversight of the internal audit function. To appoint the Board's Internal Auditors and agree the annual audit plan including any audit reviews that the Board wishes to see conducted. To monitor and provide assurance to the Board on the effectiveness of internal controls and the effectiveness of the response to issues identified by audit activity.

Membership

A lay chair who must also be a Board member

A lay or barrister vice chair

One other member who must be a Board member

Three other members who must not be Board members