Audit and Risk Committee

 

The Audit and Risk Committee members are: 

Chair: Fmr Cr Sue Westwood
Deputy Chair:  Deputy Mayor Jenny Duncan
Members: Cr David Bennett, Cr Kate Joblin, Rex McKinnon
Frequency of Meetings: Quarterly
Quorum: Standing Order 10.2 (amended by Council resolution 4 April 2017).
Senior Officers: Chief Executive, General Manager Finance, General Manager Strategy

Terms of Reference (revised 9 October 2018)

Purpose

 The purpose of the Audit and Risk Committee is to assist the Council to discharge its responsibilities to exercise due care, diligence and skills in relation to the oversight of:

a) The robustness of risk management systems, processes and practices.

b) A forward work programme, which will consist of reviews of specific risks using the ‘Deep Dive’ methodology, the delivery of the internal audit work programme and a regular review of the Risk Register.

c) The robustness of the internal control framework and financial management policies.

d) Compliance with applicable laws, regulations, standards and best practice guidelines; and

e) The establishment and maintenance of controls to safeguard the Council’s financial and non-financial assets.

f) Reviewing Council’s Fraud and Protected Disclosures policies, and other relevant policies and procedures.

g) The oversight of risk management and assurance across the Council’s CCOs with respect to risk that is significant to Council.

The role of the committee is to gain an assurance that there is a robust process to manage risks appropriately. In fulfilling their role on the Audit and Risk Committee, members shall be impartial and independent at all times.

Delegated Authority

The Council has delegated to the Audit and Risk Committee the necessary authority to effectively carry out the tasks assigned to it. The committee shall have the delegated authority to approve the appointment of the internal auditor of risk management and internal audit programmes, audit engagement letters and letters of undertaking for audit functions and additional services provided by the external auditor.

Decision Making Powers

The Committee has no decision making powers.  The Committee may request expert advice through the Chief Executive, as necessary.  The Committee may make recommendations to the Chief Executive, as necessary.

Voting

 Voting is limited to members of the Audit and Risk Committee and Mayor ex-officio.

Page reviewed: 15 Oct 2018 10:46am