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National Audit Office report: Audit and Risk Assurance Committee effectiveness tool

Audit and Risk Assurance Committee effectiveness tool

Our tool is primarily based on guidance from central government, most notably HM Treasury’s Audit and Risk Assurance Committee Handbook.

Audit and Risk Assurance Committees (ARACs) play a crucial role in supporting the effective governance of central government departments, their agencies and arm’s‑length bodies.

ARACs are operating in a highly challenging context. Government organisations are managing many short- and long-term risks and are required to be resilient to a number of pressures. This has created an environment where ARACs need to be dynamic and responsive to the changing risk profiles and demands of their organisations. ARACs can see this as an opportunity to work out how they can most proactively work with the Board and accounting officer.

Against this background, our effectiveness tool provides a way for ARACs to assess their effectiveness against more than just the basic requirements. It provides aspects of good practice to give ARACs greater confidence and the opportunity to meet the requirements of their role.

Our effectiveness tool is a comprehensive way for ARACs in central government to assess their effectiveness on a regular basis.

Outcome analyser

To gain an overall view of ARAC effectiveness, it is important that the individual views of all members are considered as a whole. You can do this very easily by using our accompanying outcome analyser to:

  • generate an overall view of ARAC effectiveness; and
  • drill down and analyse specific areas of strength or improvement on a section, sub‑section and individual question level.

NB: When using the PDF and the outcome analyser please download and save your own versions.

 

 

Publication details:

Published date: May 13, 2022