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.
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:
Ms Lisa Woolmer (Chairperson)
Mr Mick Ulbrick
Mr Geoff Harry
Cr Sonia Castelli
Cr Hanna El Mouallem.
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.
The Internal Audit function is provided by Crowe Horwath who provides independent assurance regarding the effectiveness and efficiency of governance, risk management and internal control processes across the organisation.
The appointment of the Internal Auditor was undertaken as a result of a public competitive tendering process in June 2018. The Internal Auditor was appointed in July 2018 for a term of 3 years with an option to extend for 1 year.
The Audit and Risk Committee operates within a charter which is reviewed every year. The most recent review of the charter was undertaken in March 2018. The charter outlines the duties and responsibilities of the Audit and Risk Committee.
Audit and Risk Committee Charter (2020) (PDF, 485.11KB)