Annual Report 2020-21

          Noosa Shire Council



  Audit and Risk Committee
  In accordance with Subdivision 2 of the LG Regulation, Council conducts Audit and Risk Committee
  meetings to promote good corporate governance through the provision of independent advice
  and counsel on audit and risk management issues covering a wide range of Council operations and
  projects.
  Council’s Audit and Risk Committee Charter (amendments adopted 18 March 2021) highlights that a
  key duty of the Committee is to provide reasonable assurance to Council that its core business goals
  and objectives are being achieved in an efficient and economical manner, within an appropriate
  framework of internal control and risk management.
  Three formal Audit and Risk Committee meetings were held throughout the period. The Audit
  and Risk Committee comprises of two Councillor members and two expert independent external
  members. The members of Council’s Audit and Risk Committee are:
     •    Mayor Clare Stewart
     •    Cr Amelia Lorentson
     •    Tim Cronin (Chair)
     •    Kerry Phillips


  Internal Audit
  Under section 105 of the LG Act, Council has established an efficient and effective internal audit
  function that will provide independent, objective assurance and appropriate services designed to
  add value and improve Council’s operations.
  On 18 March 2021, Council adopted changes to the Internal Audit Policy (previously adopted 19
  March 2020) which provides the framework for the conduct of internal audit function of Council as
  endorsed by the Audit and Risk Committee.
  The Policy identifies that internal audit will play an active role in:
     • developing and maintaining a culture of accountability and integrity;
     • facilitating the integration of risk management into day-to-day business activities and
       processes; and
     • p
        romoting a culture of cost-consciousness, self-assessment and adherence to high ethical
       standards.
  Within this context, Council’s internal audit activity over the medium-term is managed by its
  Internal Audit Plan which is developed having regard to current strategic and operational risks and
  is reviewed by the Audit and Risk Committee and adopted annually by Council. Council’s internal
  audits are conducted in accordance with Council’s Internal Audit Terms of Reference and Internal
  Audit Policy. For the period, Council undertook an internal audit on asset management. The internal
  audit was undertaken by a specialist external provider. Council has in place a number of systems
  and processes to ensure that recommendations resulting from its internal audits are appropriately
  actioned and implemented into day-to-day operations.




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