Local Government Act 2001

Audit committee.


F141[122.(1) A local authority shall establish a committee, to be known as an audit committee, within 3 months of

(a) the polling day for the election of the incoming members of the local authority or,

(b) where the poll is for any reason countermanded, interrupted or adjourned, the day on which the poll is completed or the fresh poll is held, and from that establishment any audit committee previously established shall cease to exist.

(2) The functions of an audit committee are

(a) to review financial and budgetary reporting practices and procedures within the local authority that has established it,

(b) to foster the development of best practice in the performance by the local authority of its internal audit function,

(c) to review any audited financial statement, auditors report or auditors special report in relation to the local authority and assess any actions taken within that authority by its chief executive in response to such a statement or report and to report to that authority on its findings,

(d) to assess and promote efficiency and value for money with respect to the local authoritys performance of its functions, and

(e) to review systems that are operated by the local authority for the management of risks.

(3) The Minister may prescribe by regulations for all or any of the following matters regarding an audit committee:

(a) its membership;

(b) the holding by it of meetings, including the frequency of those meetings and the conduct of them;

(c) the preparation of reports by it and the furnishing of them to other persons;

(d) the performance by it of its functions, whether generally or in particular cases, and the procedures to be followed in relation to that performance;

(e) the provision for privilege to attach to statements made to it or made by members of the committee in their capacity as such members;

(f) such other matters that are incidental to, or consequential on, any of the matters set out in paragraphs (a) to (e).]




Substituted (1.06.2014) by Local Government Reform Act 2014 (1/2014), s. 59, S.I. No. 214 of 2014.

Editorial Notes:


Local Government Reform Act 2014 (1/2014), s. 5(1) and sch. 1 part 1 ref. 76 provides for the substitution of “chief executive” for “manager” in subs. (7). This amendment is obsolete as the section was substituted by Local Government Reform Act 2014 (1/2014), s. 59, as per F-note above.


Previous affecting provision: section substituted by Local Government (Business Improvement Districts) Act 2006 (42/2006), s. 5, not commenced; deleted (1.01.2014) by Local Government Reform Act 2014 (1/2014), s. 5(2) and sch. 1 part 2, S.I. No. 214 of 2014.