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


13.2 Schedule of meetings

The Committee will maintain and update an Audit and Risk Committee forward meeting schedule
and forward Work Plan that includes proposed Agenda items for each meeting for the forthcoming
year to demonstrate how it intends to discharge its responsibilities under this Charter.

13.3 Induction of new members

New members of the Committee will be provided with induction material on their appointment to
assist them to meet their committee responsibilities and to familiarise themselves with Council’s
operations, corporate governance arrangements, corporate practices, and culture. Further training
may be made available if required.


13.4 Committee performance review

The Committee Chairperson will initiate an annual review of the Committee’s performance in fulfilling
its responsibilities under the Charter and workplan to identify and action improvement opportunities
to increase the effectiveness of the Committee.

The Chairperson will also deliver an annual presentation on the Committee’s performance to the
Council and provide each individual member of the Committee with feedback on their work
performance and professional contributions to the Committee’s activities.



14 DEFINITIONS

Accountability The obligation of an individual or organization to account for its activities, accept
responsibility for them, and to disclose the results in a transparent manner.

Annual work plan Sets out the activities to be covered by the audit and risk committee and allocated
key tasks to be covered at each meeting to ensure all activities associated with key risks and issues
are addressed at the appropriate time during the year and that all key responsibilities are covered.

Audit Committee means a committee that is established in accordance with section 105(2) of the
Queensland Local Government Act 2009 and that:
   (a) Monitors and reviews –
          i.    the integrity of financial documents, and
          ii.   the internal audit function; and
         iii.   the effectiveness and objectivity of the local government’s internal auditors; and
   (b) makes recommendations to the local government about any matters that the audit committee
       considers need action or improvement.
Business Continuity Plan A business continuity plan is a document that explains the actions that
should be taken before, during and after unexpected events and situations. It is designed to assist
in: identifying, preventing or reducing risks where possible; preparing for risks that are out of your
control; responding and recovering if an incident or crisis occurs.

Charter means a formal document which outlines the scope of activities of the Audit and Risk
Committee including responsibilities, operational requirements and reporting obligations.

Conflict of Interest Any relationship that is, or appears to be, not in the best interest of the
organization. A conflict of interest would prejudice an individual’s ability to perform his or her duties
and responsibilities objectively.

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