Governance
Audit and risk committee
Formal definition
In governance, Audit and risk committee refers to an assurance process used for structuring board and committee oversight so decisions are lawful, documented, and accountable.
What this actually means for you
For day-to-day delivery, Audit and risk committee should be documented clearly and applied consistently; make decision rights explicit, record rationale, and keep evidence linked to actions and owners.
Example: At the next review checkpoint, Audit and risk committee is used in practice like this: board papers include risk, options, and recommendation fields so minutes capture a clear audit trail. Accountabilities are captured in evidence logs, findings summaries, and remediation actions.
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