UK Civil Aviation Authority: Audit & Risk Committee Terms of Reference

The Board hereby resolves to establish a Committee of the Board to be known as the Audit & Risk Committee (“the Committee” or “ARC”). The Committee will support the Board in its responsibilities for issues of governance, risk, control and associated assurance by providing an independent view on: appropriateness, adequacy of design and effectiveness of operation of the Risk and Control framework; and, including as appropriate, overall value for money. The Committee may not have primary oversight of specific risks, rather the Committee’s role is to ensure and be able to confirm to the Board that appropriate and robust mechanisms are in place to ensure that these risks are being effectively managed within the CAA.