The Audit Committee is an independent Advisory Committee to Council that was first established in 1996. The primary objective of the Committee is to assist Council in the effective conduct of its responsibilities for financial reporting, management of risks, maintaining a reliable system of internal controls and facilitating the organisations ethical development.
As part of Council’s governance obligations to its community, Council has constituted the Audit Committee to facilitate:-
- The enhancement of the credibility and objectivity of internal and external financial reporting;
- Effective management of financial and other risks and the protection of Council assets;
- Compliance with laws and regulations as well as use of best practice guidelines;
- The effectiveness of the internal audit function; and
- The provision of an effective means of communication between the external auditor, internal audit, management and the Council.