An Taisce Audit and Finance Committee Terms of Reference

Purpose, role and remit:
The Audit and Finance Committee (“Committee”) is established by the Board of Directors to ensure
financial accountability and transparency of An Taisce.

1. Membership
1.1. The Board shall appoint the Committee.
1.2. All members of the Committee shall be members of An Taisce in good standing.
1.3. The Committee shall consist of not less than three members, with a majority being non-Board
members. At least one member of the Committee should have recent and relevant financial
experience.
1.4. The Chair will be elected by the Committee and shall be subject to rotation with agreement by the
members.
1.5. The Committee may invite any employee or other person to attend any of its meetings and is
authorised to seek any information it requires to enable it to discharge its responsibilities.
2. Meetings
2.1. A quorum shall be two members.
2.2. The Committee shall meet at least quarterly, or as necessary to discharge its duties.
2.3. The Chair of the Committee will ensure there is an agreed written record of meetings.
3. Authority & Review:
3.1. The Committee will operate in accordance with the terms of reference agreed by the Board. The
Board remains ultimately responsible for all financial and audit matters and is advised by the
Committee.
3.2. The Committee shall periodically review the terms of reference of the Committee and recommend
changes to the Board.
4. Duties:
4.1. Financial Reporting

• Monitor the integrity of the financial statements, including monthly/quarterly management
  accounts and recommend their approval to the Board of Directors
• Review and challenge the actions and judgements of executive management in relation to
  financial performance. Particular attention should be paid to:
  • The annual budgeting process
  • Review of management accounts and assessment of actual outturn versus budget
     Unusual transactions or those requiring a significant element of uncertainty or
    judgement
  • Compliance with accounting standards and policies
  • The going concern concept
• Any other topics as requested by the Board
• Review and recommend approval of accounting policies to the Board.

4.2. Internal Financial Controls
Ensure that proper books of account are maintained and that periodic management accounts
are prepared, reviewed and made available to the Board;

• Support the Board to ensure that An Taisce employs adequate bookkeeping staff or engage
  external bookkeepers;
• Monitor the integrity of the organisation’s internal financial controls; and
• Decide whether independent reviews of any aspects of the organisation’s system of internal
  controls should be recommended to the Board.
• Monitor and review arrangements by which staff of the organisation may, in confidence, raise
  concerns about possible improprieties in matters of financial reporting or other matters and
  ensure that there are arrangements for independent investigation of such matters and for
  appropriate follow-up action or that matters are redirected to the appropriate committee.

4.3. External Audit
 

• Oversee the organisation’s relationship with its external auditors including recommendations
  on their appointment, removal, terms of engagement, independence and remuneration;
• Meet with the external auditors before the annual audit commences to discuss and agree the
  nature and scope of the audit; and
• Meet with the external auditors during and after the completion of the audit to review findings
  and the content of the management letter.
• Oversee provision of non-audit services by the auditor.
• Oversee implementation of recommendations made by the auditors.

Approved: 23 August 2021