The audit committee of the Department operates under a written charter which includes a range of responsibilities including oversight of risk management strategy and process. These responsibilities include overseeing the review of the adequacy and effectiveness of the process of risk identification, impact assessment, and controls operated to mitigate strategic, reputational, operational, and financial risks and to report to the Secretary General on any matters requiring attention in this regard.
As part of the Appropriations Account for 2003, the Accounting Officer included a note describing actions planned to enhance internal control as referred to in the statement on internal financial controls, which included the introduction of a formal risk management process for the functions planned to remain within his Department arising from the health service reform programme.
It will be appreciated that with the recent establishment of the audit committee, initial reviews of Department operations and the control environment is necessary. However, I anticipate that, in fulfilling the requirements set out in its charter, the committee will review the Department's risk management process in the context of the developments referred to above.