Audit & Risk Committee

In accordance with section 53 of the Local Government Act 2020, Moira Shire Council has an Audit & Risk Committee which acts as an independent advisory Committee to Council.

Role

The primary role of the Audit & Risk Committee is to assist Council to:

  • effectively manage its responsibilities in regard to internal and external financial reporting;
  • manage Council’s strategic risks
  • ensure compliance with laws and regulations as well as the use of best practice guidelines; and
  • manage the internal and external audit functions.

The Audit & Risk Committee consists of at least 7 members: up to 5 external independent members and 2 Councillors nominated by Council. The Mayor or CEO may nominate an alternative Councillor to act as a substitute in order to maintain a quorum.

External members are appointed by Council following a public advertisement for an initial three year term to a maximum of six years.  The term may be extended by Council for up to one year to enable an orderly rotation of the members.

The Chairperson of the Committee is appointed from the external members by Council. The Audit & Risk Committee is required to meet at least quarterly.

Audit & Risk Committee Charter

The Audit & Risk Committee Charter provides the governance framework to guide the Committee.

The current Charter was adopted on 22 June 2022 and reviews of the charter are conducted at least every two years.

Audit & Risk Committee Charter.pdf

Committee Members

External Independent Members

  1. Ms Anthea Sloan (Chair)
  2. Mr Fred Douglas
  3. Ms Lisa Ford CPA 
  4. (currently vacant)
  5. (currently vacant)

Councillor Members

  1. Cr Wayne Limbrick
  2. Cr Ed Cox

 Cr Libro Mustica (Mayor) ex-officio member

Meeting Dates

  • Thursday, 10 February 2022
  • Thursday, 12 May 2022
  • Thursday, 21 July 2022
  • Thursday, 15 September 2022
  • Thursday, 20 October 2022

About the Meetings

Due to the nature of the work of the Audit & Risk Committee and the potential sensitivity of the material being considered the meetings of the Audit & Risk Committee are closed to the public. The Chief Executive Officer, the Director Corporate Governance & Performance, Chief Financial Officer and the Internal Auditor attend all meetings except where the Audit & Risk 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.

Internal 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 2023. The four year Internal Audit Plan developed by the Internal Auditors is reviewed annually by the Audit & Risk 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 & Risk 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 & Risk 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 & Risk Committee formally reviews its own performance and the performance of the Internal Auditor each year.

External Audit

The Victorian Auditor-General has contracted Crowe 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 & Risk Committee.