The Business, Oversight & Audit Committee meets at least three times per year and its fundamental role is to provide advice and guidance on Policy, Governance, Finance, Risk Management and Performance Management related issues.
Specifically, the Committtee's role is to:
- Provide more time for the Full Board to have wider discussions regarding strategic local and national issues
- Monitor progress against the delivery of the strategic priorities of the LRS Strategy for Physical Activity & Sport. Identify and resolve specific issues.
- Provide oversight of Leicester-Shire & Rutland Sport's financial performance and monitor the integrity of its internal financial controls.
- Ensure that an Internal Controls System is maintained and that all policy frameworks are reviewed in a timely manner.
- Make recommendations to the Board in relation to the appointment, re-appointment and removal of an external auditor and approve the remuneration - every four years.
- Provide guidance and support for the LRS Senior Management Team and the LRS Board.
- Ensure that the internal risk management systems are continually reviewed.
- Identify and monitor risk and ensure mitigating actions are in place and delivered. Liaise where necessary with the host authority and/or funding partner.
- Provide a written and verbal report back to full Board, highlighting recommendations and challenge areas.