Audit and Risk Committee Member (Volunteer)

The purpose of the Audit and Risk Committee (the Committee) is to enable Chapter members to meet their responsibilities by providing independent oversight of the cathedrals systems of internal control, risk management and financial reporting, and through supervision of the quality, independence, and effectiveness of both the internal auditor (if appointed) and external auditors.

The Committee must keep the activities and management of the Cathedral under review in relation to such matters as the Chapter has specified in these Terms of Reference.

The Committee is responsible for:
1. reviewing the annual report and financial statements, paying particular attention to accounting policies, areas involving significant judgement or estimation and compliance with financial reporting requirements and accounting standards, and recommending them to Chapter for approval;
2. reviewing the scope and results of internal and external audit work, including the adequacy of management responses;
3. reviewing the performance of internal and external auditors, including recommending the appointment and remuneration of internal external auditors to Chapter when required;
4. monitoring the processes for assessing, reporting, mitigating and owning business risks and their financial, operational and reputational implications, including financial, governance and safeguarding risks;
5. reviewing the risk register at least twice annually, and ensuring Chapters internal processes facilitate the prompt reporting of serious incidents, control failures and emerging risks;
6. reviewing the Annual Governance Statement assessing the effectiveness of the Cathedrals governance arrangements.
7. reviewing annually the Gifts and Hospitality Register.
8. reviewing and recommending to Chapter the organisations policies for counter-fraud, anti-money laundering, whistle-blowing and cyber and information security; and
9. reviewing arrangements by which staff may, in confidence, raise concerns about possible improprieties relating to finance or other aspects of the Cathedrals operations to ensure that arrangements are in place for the investigation of such matters and for appropriate follow-up action.

Canterbury Cathedral is the cathedral of the Archbishop of Canterbury, the leader of the Church of England and symbolic leader of the worldwide Anglican Communion. Located in Canterbury, Kent, it is one of the oldest Christian structures in England and forms part of a World Heritage Site.