Review Of The Audit And Risk Committee Charter & Review Of The Internal Audit Policy · Attachment 1_Audit & Risk Committee Charter_Draft

AUDIT & RISK COMMITTEE CHARTER



Corporate Governance Framework The system of rules, practices, and processes by which
Council is directed and controlled.

External Audit The independent examination and opinion of council’s financial statements, and
whether the council is complying with accounting standards, laws and regulations.

Fraud Any illegal act characterized by deceit, concealment, or violation of trust. These acts are not
dependent upon the threat of violence or physical force. Frauds are perpetrated by parties and
organizations to obtain money, property, or services; to avoid payment or loss of services; or to
secure personal or business advantage.

Fraud and corruption control framework A tailored program to manage their organisation’s risks
of fraud and corruption effectively.

Governance The combination of processes and structures implemented by the board to inform,
direct, manage, and monitor the activities of the organization toward the achievement of its
objectives.

Independent external member means a professional, experienced individual appointed to the Audit
and Risk Committee by Council, who is independent of Council and councillors.

Internal Audit A department, division, team of consultants, or other practitioner(s) that provides
independent, objective assurance and consulting services designed to add value and improve an
organization’s operations. The internal audit activity helps an organization accomplish its objectives
by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of
governance, risk management and control processes.

Risk Management Framework Set of components that set out the organisational arrangements for
designing, implementing, monitoring, reviewing and continually improving risk management
throughout an entity.



15 HUMAN RIGHTS

In developing this Policy, the subject matter has been considered in accordance with the
requirements of the Queensland Human Rights Act 2019. It is considered that the subject matter
does not conflict with any human rights and supports a human rights approach to decision making
by Council. Council representatives will endeavour to act and make decisions under this Policy in a
manner that is compatible with human rights. In particular, representatives will endeavour to:
 identify relevant human rights which may be affected by the action or decision;
 give proper consideration to the impact of its actions and decisions on human rights; and
 ensure that any conduct or decision by Council which limits an individual’s human rights is
reasonable and justifiable. This Policy should be read in conjunction with Council’s Human Rights
Policy.


16 RELATED DOCUMENTS

This Policy complements and is to be implemented in conjunction with other council policies,
directives and relevant documents including:
      Audit and Risk Committee Charter
      Internal Audit Policy and Terms of Reference


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