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 About MLC > Committees and Councils > Audit Committee
| Audit Committee |
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Why we exist
The Audit Committee has been established in line with best practice to ensure financial probity within the Commission i.e. that there is effective financial control and reporting in place.
Who is on the audit committee
The Committee comprises three Commissioners appointed by the Commission. These Commissioners are selected for their knowledge of control and financial matters. The Director General, Commercial Services, Finance Director and Audit Manager are normally required to attend Audit Committee meetings as well. Where necessary, experts may be invited to speak at the Audit Committee.
What we do
The two main areas overseen by the Committee are that of internal and external audit.
Internal audits are regularly carried out across MLC to verify that proper controls over income and expenditure have been established and are working correctly. Consideration is also given to ensure that funds are being spent in ways to give best value to levy payers and the industry. The Audit Committee approves the Strategic and Annual Internal Audit Plans and MLC’s Audit Manager executes the planned programme of work.
MLC’s external auditor conducts an annual external audit. This audit is a legal requirement and verifies that the Commission's financial statements have been properly prepared in accordance with reporting requirements.
Further information
For further information about the activity and full remit of the Audit Committee, please contact MLC’s Audit Manager via julie_gray@mlc.org.uk |
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