Annual Governance Statement 2007/08
The Accounts and Audit Regulations 2003
(amended 2006) introduced the requirement for a statement on
internal control to be prepared by local government bodies from the
financial year 2003/2004:
“The relevant body shall be
responsible for ensuring that the financial management of the body
is adequate and effective and that the body has a sound system on
internal control which facilitates the effective exercise of that
body’s functions and which includes arrangements for the management
of risk.”
At least once a year, a review must take place
of the effectiveness of the systems of internal control and an
Annual Governance Statement (AGS) [formerly the Statement on
Internal Control (SIC)] must be included within the Financial
Statement.
Thanet District Council's Governance and Audit Committee
approved the Annual Governance Statement 2007/08 and supporting
document at its meeting on the 26 June 2008.
This document is separated into 5 sections:
1. Scope of responsibility
2. The purpose of the
governance framework
3. The governance
framework
4. Review of
effectiveness
5. Significant governance
issues
and forms part of the the Council's Statement of Accounts 2007/08