Audit and Risk Assurance Committee Handbook
The Audit and Risk Assurance Committee handbook reflects developing best practice in governance.
- From:
- HM Treasury and Internal Audit Profession
- Published
- 29 May 2013
- Last updated
-
2431JulyMarch20242025 — See all updates
Documents
Audit and Risk Assurance Committee Handbook
Ref: ISBN 978-1-917151-23-8
PDF, 324 KB, 60 pages
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GIAA Audit and Risk AssessmentAssurance Committee Self-Assessment Tool
MS Excel Spreadsheet, 104 KB
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Request an accessible format.
If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email digital.communications@hmtreasury.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.
Details
This Audit and Risk Assurance Committee (ARAC) Handbook has been refreshed and expanded to improve clarity and reflect changes in best practice in governance. The handbook covers the role and responsibilities of an ARAC and provides guidance on good governance processes for ARACs.
Whilst it is not intended to provide guidance on areas that an ARAC may need to review, Annex F ’Key questions for an ARAC to ask’ does provide prompts of what ARACs should consider on a range of topics, including whistleblowing and cyber security. This Annex is not meant to be an exhaustive (or restrictive) list of questions relating to a particular topic. Annex H is a checklist which an ARAC could use to review its effectiveness.
To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet (Audit and Risk Assurance Committee self-assessment tool) allowing all ARAC members (and the views of others) to be collated and analysed. This tool is a modified version of the National Audit Office’s Outcome Analyser. As an alternative, ARACs can consider using the NAO’s ARAC effectiveness tool and its outcome analyser, which incorporates leading practice alongside the essentials set out in the ARAC Handbook. This may be particularly appropriate for ARACs of large or complex organisations.
Updates to this page
Published 29 May 2013
Last updated 2431 JulyMarch 2024
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Update history
2025-03-31 16:20
Updates made to body copy about the Audit and Risk Assurance Committee self-assessment tool.
2024-07-24 12:16
The Handbook has been fully refreshed to improve clarity and reflect changes in best practice in governance. The annexes on whistleblowing and cyber security have been removed, and some questions on these topics are now incorporated into Annex F ‘Key questions for an ARAC to ask’. A checklist for ARACs to use to review their effectiveness has been added at Annex H. To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet allowing all ARAC members (and the views of others) to be collated and analysed.
Details
This Audit and Risk Assurance Committee (ARAC) Handbook has been refreshed and expanded to improve clarity and reflect changes in best practice in governance. The handbook covers the role and responsibilities of an ARAC and provides guidance on good governance processes for ARACs.
Whilst it is not intended to provide guidance on areas that an ARAC may need to review, Annex F ’Key questions for an ARAC to ask’ does provide prompts of what ARACs should consider on a range of topics, including whistleblowing and cyber security. This Annex is not meant to be an exhaustive (or restrictive) list of questions relating to a particular topic. Annex H is a checklist which an ARAC could use to review its effectiveness.
To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet (Audit and Risk Assurance Committee self-assessment tool) allowing all ARAC members (and the views of others) to be collated and analysed. This tool is a modified version of the National Audit Office’s Outcome Analyser. As an alternative, ARACs can consider using the NAO’s ARAC effectiveness tool and its outcome analyser, which incorporates leading practice alongside the essentials set out in the ARAC Handbook. This may be particularly appropriate for ARACs of large or complex organisations.
Updates to this page
Sign up for emails or print this page
Update history
2025-03-31 16:20
Updates made to body copy about the Audit and Risk Assurance Committee self-assessment tool.
2024-07-24 12:16
The Handbook has been fully refreshed to improve clarity and reflect changes in best practice in governance. The annexes on whistleblowing and cyber security have been removed, and some questions on these topics are now incorporated into Annex F ‘Key questions for an ARAC to ask’. A checklist for ARACs to use to review their effectiveness has been added at Annex H. To help with this review and take account of each member’s views, the questions from Annex H have been transferred to a spreadsheet allowing all ARAC members (and the views of others) to be collated and analysed.