Chard Town Council as a public body is responsible for its own finances. It is required to make arrangements for the proper administration of its financial affairs and to ensure that one of its officers has this responsibility. The officer whose job it is to oversee the finances of the Council is referred to as the Responsible Financial Officer (RFO).
The Council must work within a legal framework that is specified within the Accounts and Audit Regulations and it must ensure that its business is conducted in accordance with the law and proper standards.
Good governance, accountability and transparency are essential and a cornerstone to improving public services. The Council must ensure that public money is safeguarded, properly accounted for and used economically, efficiently and effectively.
Grant Thornton are the Council’s appointed External Auditors with effect from the 2013 audit for a fixed five year period. The Audit Commission will continue to monitor the performance of the external auditors assessing the quality of their work and ensuring they carry it out in compliance with their statutory obligations.
Chard Town Council is also required to appoint an Internal Auditor who will monitor and review the arrangements in place to ensure the proper conduct and effectiveness of its financial affairs. The Council must have an adequate system of internal control and risk management. This review is an integral part of continually improving governance and accountability.
The Council is required to publicly report the outcome of the review of its accounts and also to make its accounting statements and other documents available for public inspection.
If you would like more information about the Council’s financial responsibilities please contact us on 01460 239567.