Non-Profit Organisations

The Governance Code for Charities recommends the setting up of an Audit Committee in Type C organisations. This audit committee should consist of three or more directors. The chair of the organisation’s board can be an audit committee member but cannot chair the audit committee. At least one of this committee should have recent and relevant financial experience.

The audit committee should have written terms of reference that describe the role of the committee and its responsibilities which is published on your Website.

The audit committee should:

  • Monitor and review the accuracy of the financial statements of the organisation;
  • Monitor and review the announcements about the organisation’s financial performance and financial controls;
  • Monitor and review the control and risk management systems;
  • Monitor and review the effectiveness of the organisation’s internal audit role;
  • Monitor and review the external auditor’s independence and the effectiveness of the audit process;
  • Monitor and review the arrangements for staff to raise concerns in confidence about possible improprieties relating to financial reporting or other matters. This policy should be in line with the Protected Disclosures legislation.
  • Approve the terms of engagement of the external auditor


FAST has an audit, finance & governance committee (AFG) which reports directly to the board of directors. The role of the AFG committee is to oversee the efficient financial, risk management & governance of FAST and to report and make recommendations to the board.

FAST Has put in place the Terms of Reference for the AFG committee. Please click here to view a copy of these