Closed
Audit and Risk Committee - Independent Chair
Tender ID: 565864
Tender Details
Organisation:
Tender #:
-
Status:
Closed
Publish Date:
31 August 2024
Closing Date:
14 September 2024
Tender Description
- The Audit and Risk Committee was established in accordance with section 53 of the Local Government Act 2020 (the Act). The Committee replaces the former Audit and Risk Management Committee established under the Local Government Act 1989.
Role
The Audit and Risk Committee is an advisory committee to assist the Council to discharge its responsibilities under the Act to:
- monitor the compliance of Council policies and procedures with:
- the overarching governance principles
- the Act and the regulations and any ministerial directions
- other relevant laws and obligations
- monitor internal controls
- monitor Council financial and performance reporting
- monitor and provide advice on risk management and fraud prevention systems and controls
- oversee internal audit function
- oversee external audit functions; and monitor related party transactions.
Membership
The Audit and Risk Committee consists of 5 members: 3 independent members and 2 Councillors. The Councillors are appointed for a 2 year period. Independent members are appointed for a 3 year term and are eligible to be reappointed after the expiry of their term. The Chairperson of the Committee is appointed on an annual basis from the independent membership of the Committee by Council at its Annual Meeting.
The Audit and Risk Committee meets 5 times per annum.
The current membership of the Committee is:
Independent Members
- Mr Geoff Harry (Chairperson)
- Ms Jenny Johanson
- Mr Mick Jaensch
Councillor Members
- Cr Sonia Castelli
- Cr Laurence Evans OAM
The Chief Executive Officer, Director Corporate Services, Manager Finance, Manager Governance and Internal Auditors attend all meetings by invitation, to assist the Committee, and do not have voting rights. The External Auditor attends a Committee meeting to present to the external audit plan and the presentation of the audited financial, standard and performance Statements. The opportunity is provided for the Audit and Risk Committee to meet with the auditors without management at each meeting.
Matters commonly discussed at the Audit and Risk Committee meetings include:
- internal audit reviews
- external audit reports
- implementation status of audit recommendations
- financial statements
- reports relating to governance, legislative compliance and information technology
- risk management issues
- insurance matters
- procurement matters.
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