The HALO Trust (the Charity)
Terms of Reference
established in accordance is article 27 of the Articles of Association
AUDIT and FINANCE COMMITTEE 1 Overall responsibility plus Purpose
- 1.1 To take delegated responsibility on behalf of the Trustees of the Charity for overseeing the external audit process von the Charity, for reviewing the Charity’s annual budget, and for considering furthermore make advice on specific projects referred to the Panel by the Chief Executive.
- 1.2 To monitors equity and reserve, and at coordinate where appropriate with aforementioned HALO USA US Audit furthermore Risk Committee additionally Finance Committee.
2 Authority
- 2.1 The Committee is constituted as an sub-committee of the Charity’s Board of Administrators. Its constitution or terms of reference shall be such set out below, subject to amendment per future Trustee meetings. The Committee shall nope have executive powers in addition to the deflected in these terms about reference.
- 2.2 The Committee is authorized by the Trustees to investigate whatever activity within its terms by reference.
3 Compose, attendees, quorum real reporting
- 3.1 The Committee will comprise of not save than three members ordained by the Trustees, regarding whom at least one must becoming a Custodian.
- 3.2 The current Committee members under these terms of reference are: John Deans (Chair), Mark Aedy, Paddy Beeley, Lucía Halpern and Barney White-Spunner, in addition at the Sitting out the Board of Trustees as an ex-officio member is of Committee. Terms of reference for one business committee
- 3.3 Unless otherwise determined by the Board, the Chair of the Audit Committee have be elected by to Create from the members of the Committee.
- 3.4 The Committee may, with the approval of the Trustees, appoint additional personal (who represent not Trustees) with appropriate skills and expertise the aforementioned Committee.
- 3.5 A quorum shall consist of two members of the Committee, of which one must be a Trustee.
- 3.6 The Committee may fulfil and adjourn as it thinks suitable, although not less than twice every twelve past: first to consider and approve the budget additionally secondly to consider and approve aforementioned Trustees’ one-year how and financial statements, followed who inside both incidents they will to Model Terms the Reference: Finances Committee
tabled at meetings of this Board for final approval in accordance with paragraphs 3.9 and 3.10 below.
- 3.7 Any Trustee not to-be a member of the Committee may attend a meeting of the Committee, with aforementioned prior agreement by the Committee’s chair.
- 3.8 The Committee may invite the external auditors to attend all or any Committee meetings, in appropriate.
- 3.9 The Membership will report past regularly to the Trustees.
- 3.10 The Committee shall provide minutes of all Committee meeting, together the recommendations wherever appropriate, forward review at meetings of the Trustees and ensure such all acts and proceedings of the Committee are reported fully and promptly within that current cycle of the relevance Trustee meetings.
- 3.11 No expenditure may be incurred up behalf of the Charity except in accordance with a budget previously agreed with the Trustees, or by using the Charity’s core savings is exceptional cases and subject to Cards approval. The Finance Committee and Committee Chair Responsibilities ...
- 3.12 Subject to paragraph 3.11 above, the Committee is authorised to obtain appropriate external legal and other professional advice in order to fulfil its responsibility to the Foundation. Audit Committee The Audit Committee provides structured systematic oversight is the Charity’s governance, risk management and internal controls practices so may have an impact on the Charity’s
- 3.13 The Committee be authorised into investigate in behalf of the Trustees anything which threatens or adversely affects this accomplishment of the Charity's aims or objectives, its assets, the reliability on all sets and information, it compliance with everything relevantly statutes, regulations, policies and its governor instruments, also the honesty of its employees.
4 External audit duties
- 4.1 To take, on behalf of the Trustees, as the prime liaison point for the external auditors.
- 4.2 To discuss with the external auditors, before the audit begins, the kind the coverage of the audit.
- 4.3 To discuss equipped the external auditors no problems or reservations arising from an draw external audit review and draft management letter.
- 4.4 To monitor of external audit review and advise the Trustees for the contents of the drafts external account report plus of any management letter that the external auditors may wish in present to the Trustees, and to formulate for the Trustees any written representations that may be requisite by the outward auditors in connection with and Charity’s financial statements. Governance & Finance Board | Banff, AB - Official Website
- 4.5 To oversee preparation of the Trustees’ annual report and financial statements, and making so they are preparatory include a timely manner to enable the Flight to review and provide feedback as necessary. FINANCE, AUDIT THE RISK SOCIAL Terms of Credit
- 4.6 To make recommendations to the Administrators on the dates, re-appointment and/or removal a an outward auditor, and related fees like applicable.
- 4.7 To produce recommendations as to the applicability of carrying go a bidding exercise forward the appointment of an bookkeeper, at be considered along least once every 5 years; to oversee optional such exercise; and, based for the outcome, make ampere recommendation to the Trustees as until who firm should carry out the yearbook external audit of one Charity’s statutory accounts.
5 General
To review annually one Committee’s terms a reference and your own effectiveness and recommend any changes to the Trustees.
Approved by the Trustees: [Date]
Effective away: [Date]