The South Tees Development Corporation (Teesworks) is looking to recruit independent members to its Audit & Governance Committee.
The Audit & Governance Committee has a vital role to play in the work of the South Tees Development Corporation, providing oversight of our financial statements, audit arrangements, internal controls and compliance with laws and regulations.
It provides independent review of governance, risk management and control frameworks and oversees the financial reporting and annual governance processes. It oversees internal audit and external audit, helping to ensure efficient and effective assurance arrangements are in place.
The Committee is made up of an Independent Chair, a member of the Tees Valley Combined Authority’s Audit & Governance Committee and other independent members who are appointed by the South Tees Development Corporation Board. The independent members are appropriately qualified and experienced and able to demonstrate a background in:
- Treasury management
- Risk management
- Commercial Investment
- Audit management
- Corporate Governance
The Committee shall carry out the duties below for the STDC Group:
- Review the Groups corporate governance arrangements against the good governance framework and consider annual governance reports, and assurances.
- Review the Annual Governance Statement prior to approval and consider whether it properly reflects the risk environment and supporting assurances, taking into account internal audit’s opinion on the overall adequacy and effectiveness of the Group framework of governance, risk management and
- Consider the External Auditors opinion of the Groups arrangements to secure value for money and review assurances and assessments on the effectiveness of these arrangements.
- Consider the framework of assurance and ensure that it adequately addresses the risks and priorities of the
- Agree the risk management Policy and Framework and seek assurances on the effective development and operation of risk management in the
- Seek assurances regarding risk-related issues reported to the
- Consider reports on the effectiveness of internal controls and monitor the implementation of agreed
- Review the assessment of fraud risks and potential harm to the Group from fraud and corruption.
- Monitor the counter-fraud strategy, actions, and
- Review the relevance of the Committee Terms of Reference and prepare an annual effectiveness statement which will support the performance of the Committee in year.
This is a voluntary, unpaid role, for which members are required to each attend a minimum of three meetings a year.
Independent members cannot be:
- Members, co-opted members or officers of the Combined Authority, our Constituent Authorities, or parish councils within the Tees Valley now or at any point in the last five years.
- A relative or close friend of a member, co-opted member or officer of the Combined Authority, our Constituent Authorities, or parish councils within the Tees Valley now or at any point in the last five years.
To express your interest please forward your CV with a short covering letter to [email protected]
The deadline for applications is midnight on Sunday 11th June 2023 with suitable candidates invited for informal conversations with the Chair of the Committee and the Group Director of Finance & Resources by arrangement.