assessment of effective scrutiny


The scrutiny of treasury management strategy and practices is in important part of the CIPFA Code of Practice for treasury management. It is usually undertaken by an audit committee or finance scrutiny committee.

This tool has been developed by the Better Governance Forum and the Treasury Management Network to support the committee undertaking the scrutiny and as an aid for self-assessment or audit review. This edition updates the version first published in 2011. 

As well as demonstrating compliance with the Code, effective scrutiny is an important part of ensuring good governance of treasury management. For example it helps develop a better understanding of the treasury risks faced by the organisation and it helps ensure better decision making on strategy and policy matters, as well as supporting greater accountability.

For more information on the internal audit of treasury management please see presentations from the workshops delivered by the BGF and TMN in 2011 in the Better Governance Forum archive: 'Internal audit best practice: Treasury Management'.