Financial Management

Audit and Governance

The Isle of Wight Council is responsible for ensuring that:

its business is conducted in accordance with the law and proper standards;
public money is safeguarded and properly accounted for and used economically, efficiently and effectively;
it makes arrangements pursuant to the Local Government Act 1999 to secure continuous improvement in the way in which its functions are exercised, having regard to a combination of economy, efficiency and effectiveness;
it puts in place proper arrangements for the governance of its affairs, facilitating the effective exercise of its functions and which includes arrangements for the management of risk.

The annual governance statement outlines how the council has complied with these requirements.

Annual governance statements up to 2009/10 can be found within the statement of accounts of the relevant year. After this date they have been published separately.

Annual Governance Statement 2011/12

Annual governance statement 2010/11

The council’s Audit Committee provides independent assurance of the risk management framework and the associated control environment - including independent scrutiny of the council’s financial and non-financial performance.

Agendas and minutes of the Audit Committee can be found here.

The council's annual statement of accounts is subject to external audit. Once completed, the external auditors issue a notice of completion.

2010/11 Notice of Completion

2011/12 Notice of Completion