Annual Report 2023-24

      Risk and Opportunity                                                                                                       Audit and Risk




                                                                                                                                                                                                                                                     Governance and Disclosures
      Management                                                                                                                 Committee
      Managing risks and opportunities is part of good               Council is focused on ongoing implementation of             In accordance with subdivision 2 of the LG Regulation,    within an appropriate framework of internal control and
      leadership and governance and is fundamental to                the policy through various education and awareness          Council conducts Audit and Risk Committee meetings        risk management.
      how Council is managed at all levels. Council manages          initiatives. On 28 September 2023 and 3 May 2024, in        to promote good corporate governance through the
      risks and opportunities within a context of competing          conjunction with the Local Government Mutual Scheme         provision of independent advice and counsel on audit      Four formal Audit and Risk Committee meetings were
      resources, financial and community priorities. It              (LGMS), Council delivered training on the Enterprise        and risk management issues covering a wide range of       held throughout the reporting period. The Audit and
      recognises that innovation involves risks, but also            Risk and Opportunity Management Framework to staff,         Council operations and projects.                          Risk Committee comprises of two elected members and
      provides opportunities to create new ways to benefit the       which explored topics such as:                                                                                        two expert independent external members. The current
      community and achieve its objectives.                           — Understanding risk management concepts                   Council’s Audit and Risk Committee Charter, adopted       members of Council’s Audit and Risk Committee are:
                                                                      — External context and horizon scanning                    17 March 2022, highlights that a key function of the       — Tim Cronin (Chair)
      Council regularly reviews, monitors, manages, and               — Risk and Opportunity Management in action at our        Committee is to provide reasonable assurance to            — Ian Rushworth
      reports its strategic, service delivery (operational) and            Council                                               Council that its core business goals and objectives are    — Cr Nicola Wilson
      project risks to the Council, the Executive Team and to         —O    ur new risk appetite statements                     being achieved in an efficient and economical manner,      — Cr Tom Wegener
      the Audit and Risk Committee. Within this context, the          —C    onducting a risk assessment
      Executive Team regularly review and reset Council’s
      strategic risk register profile to reflect Council’s current   The workshops were highly successful and provided
      strategic risk appetite, to support good governance, and       attendees with new skills and abilities to apply the Risk
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      to assist in decision making processes.                        and Opportunity Management Framework to their work
                                                                     functions and activities at Council.
      On 15 September 2022, Council adopted the Enterprise
      Risk and Opportunity Management Policy which                   Council will continue to educate and train staff on risk
      ensures Council has a systematic approach to the               and opportunity management best practice.
      identification, management, mitigation and monitoring
      of risks and opportunities in alignment with the Policy,
      Council’s strategic objectives and the Australian
      Standard AS/NZS ISO 3100.




                                                                                                                                                                                                                                                     Noosa Council Annual Report 23/24