Under the Northern Territory Local Government (Accounting) Regulations there is a mandated requirement for Council to establish and maintain an Audit Committee.
The Audit Committee is established to assist the Chief Executive Officer and East Arnhem Regional Council to ensure that an effective internal control and risk management frameworks exists across Councils operations in order to facilitate Corporate Governance best practice. The complete Audit Committee Charter can be downloaded here.
The scope of the Audit Committee includes, but is not limited to the following:
- Oversight of compliance with statutory responsibilities and Council policies
- Assessment of internal financial accounting and management controls
- Review of risk management strategies and initiatives
- Adequacy of audit scope and coverage
- Monitoring the effectiveness and efficiency of internal and external audit
- Management response and timeliness of action taken to correct audit findings
The Audit Commitee is comprised of five (5) members, consisting of three (3) elected members and two (2) independent external members.
Cr Gordon Walsh
Cr John Ryan
Cr Wesley Bandi Bandi Wunungmurra
Iain Summers B Comm, LLB (Hons), Grad Dip Management Psychology, FCA FCPA FAICD FAIM
C J (Kate) Laurence FCPA