Meetings, internal and external audits
Due to the nature of the work of the Audit Committee and the potential sensitivity of the material being considered the meetings of the Audit Committee are closed to the public. The Chief Executive Officer, the General Manager Corporate and the Internal Auditor attend all meetings except where the Audit Committee believes the matter should be discussed privately. Other members of Council or Council staff may be invited to attend at the discretion of the Chief Executive Officer and / or the Chairperson to advise and provide information when required. Representatives of the external auditor are invited to attend meetings considering the draft annual financial statements and results of the external audit.
AFS & Associates Pty Ltd has been Council’s internal audit service provider since March 2012. The current contract with AFS & Associates Pty Ltd expires in June 2019. The four year Internal Audit Plan developed by the Internal Auditors is reviewed annually by the Audit Committee and considered by Council. The Internal Audit Plan exists to assist Council to achieve and maintain sound control over Council activities. Internal audit reports provided to Management, the Audit Committee and Council provide an independent and objective assessment of the systems and processes Council has in place but is not involved in day to day operational matters. The Audit Committee is provided with a report each meeting on the progress made by Council to implement the agreed improvement recommendations contained in the Internal Auditor’s reports. The Audit Committee formally reviews its own performance and the performance of the Internal Auditor each year.
The Victorian Auditor-General has contracted Crowe Horwath to perform the external audit of Moira Shire Council. Each year, prior to the preparation of Council’s Annual Financial Statements, the external auditors conduct an audit of Council’s financial management practices and systems and present their audit findings to the Audit Committee.
The Audit Committee Charter provides the governance framework to guide the Committee. The current Charter was adopted in August 2017 and reviews of the charter are conducted at least every two years.