The Wayside Network

A one day Board Directors course for the National Housing Federation

Being an Audit Committee member has never been more challenging. Increasingly the Board looks to the Audit Committee to obtain assurance as to internal controls and risk management as well as to the regularity and probity of the financial accounts. Each of these areas can appear as if hidden behind a screen of impenetrable language. This course is intended to build the confidence of Audit Committee members to cut through the jargon and feel empowered to ask the questions needed - and to understand the answers; to engage with management and external and internal auditors; and to evaluate the effectiveness of management, auditors and the Audit Committee itself.

Course aim

To provide board and audit committee members with an insight into the key responsibilities and relationships integral to the effective working of this important committee.

Learning Objectives/Outcomes


By the end of the course delegates will:

• Understand the role of the Audit Committee as a pillar of good governance and be able to distinguish examples of best practice
• Be able to discuss the requirements of the Housing Corporation
• Understand the roles of internal and external auditors and how they combine with management to provide all round assurance
• Feel confident to question auditors and management and pursue the answers until satisfied
• Be able to evaluate the effectiveness of each element of corporate governance

Topics covered include:

• New developments in the context of good governance: the Combined Code, Higgs, Smith, Turnbull and Flint - latest publications from the Audit Commission and CIPFA
• The Housing Corporation on risk, control and governance
• The audit committee terms of reference
• The assurance framework - what keeps you awake at night?
• Risk management and the Board
• Internal audit and internal control
• External audit and financial statements
• When things go wrong - the audit committee role
• Measuring performance

Who should attend?

The course is aimed at board members, audit committee members, and chief executives who are considering their audit committee arrangements.

Level of Course

The course covers recent developments and current good practice. It would suit all levels of experience.

See also: Controls Assurance - Are you getting enough?