Audit & Risk Committee

Agendas, Attachments & Minutes

Objectives

The primary objective of the Chittering Audit Committee is to accept responsibility for the annual external audit and liaise with the local government’s auditor so that Council can be satisfied with the performance of the local government in managing its financial affairs.

Reports from the committee will assist Council in discharging its legislative responsibilities of controlling the local government’s affairs, determining the local government’s policies and overseeing the allocation of the local government’s finances and resources. The committee will ensure openness in the local government’s financial reporting and will liaise with the Chief Executive Officer to ensure the effective and efficient management of local government’s financial accounting systems and compliance with legislation.

The committee is to facilitate:

1. The enhancement of the credibility of external financial reporting
2. Compliance with laws and regulations as well as use of best practise guidelines relative to auditing
3. The provision of an effective means of communication between the external auditor, the Chief Executive Officer and the Council

The meetings are open to the general public pursuant to the Local Government Act 1995, Section 5.23 and include question time for members of the pursuant to the Local Government Act 1995, Section 5.24.

Powers

The Chittering Audit Committee is a formally appointed committee of Council and is responsible to that body. The committee does not have executive powers or authority to implement actions in areas over which the Chief Executive Officer has legislative responsibility and does not have any delegated financial responsibility. The committee does not have any management functions and cannot involve itself in management processes or procedures.

The committee is to report to Council and provide appropriate advice and recommendations on matters relevant to its term of reference in order to facilitate informed decision-making by Council in relation to the legislative functions and duties of the local government that have not been delegated to the Chief Executive Officer.

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Agendas and Minutes