The purpose of the Audit and Compliance committee is to provide an independent oversight of the Gallery's affairs, and to provide advice and guidance to the Board of Trustees and the Director (as Accounting Officer) on the adequacy of audit arrangements (internal and external) and on the implications of assurances provided in respect of risk and control in the Gallery.
The Audit and Compliance Committee may investigate any activity within its terms of reference, and to seek any information it requires from staff. The Chairman of the Audit and Compliance Committee will investigate any irregular or improper matter brought to his or her notice by trustee or staff member, and in extremis may bring such a matter to the attention of the DCMS.
The members of the Committee may call upon external expertise, e.g. fraud specialists or the NAO, to undertake reviews of Gallery activities so as to obtain assurance that the Gallery is compliant with financial and other legislation, that it is meeting its objectives, that money is spent efficiently, and that potential risks are highlighted and managed. The Committee make recommendations to the Board based on their findings. It is then the responsibility of the Trustees, the Director, the Head of Finance and Planning, and other Gallery staff, to carry out the Committee's recommendations.
Meetings are held quarterly. All meetings are minuted.
This Committee is a sub-committee of the Board of Trustees. Four Trustees are members of the Committee and one of the four is nominated by the Board as the Audit and Compliance Committee Chair. As well as these four members, Committee meetings are attended by the Director, the Head of Finance and Planning, representatives of the National Audit Office, and the Head of Internal Audit.
From 1994-2004 the series includes correspondence and associated papers only. From 2005 onwards the series includes, for each meeting, the agenda, minutes, and a full set of discussion papers.