The terms of reference of this Triennial Review of the Treasure Valuation Committee (TVC) are to:
- provide robust evidence on the continuing need for the TVC in term of its functions and form
- review its governance arrangements to ensure compliance with the corporate governance principles contained in the Cabinet Office Triennial Review Guidance
Stage One of the review looks at 3 questions:
- do the key functions of the TVC continue to be appropriate in terms of delivering the government’s objectives?
- if so, are these functions most effectively and cost-efficiently provided at arm’s length from government and, more specifically, through an advisory non-departmental public body (NDPB)?
- is the current location of the body (with support provided by the Treasure Team at the British Museum) the most appropriate?
Stage Two of the review looks at whether the TVC operates in accordance with the recognised principles of corporate governance by being open, transparent and accountable.