(1)  An audit panel established under section 85 is to review the council's performance in relation to –

(a) the council's financial system, financial governance arrangements and financial management; and

(b) all plans of the council under Part 7 ; and

(c) all policies, systems and controls the council has in place to safeguard its long-term financial position; and

(d) any other matters specified in an order under section 85B as matters that an audit panel is to consider in such a review.

(2)  A council, audit panel or person is to comply with the requirements, specified in an order under section 85B , that apply in relation to the council, audit panel or person.