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 four members: up to three independent members and two 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 a term of three 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 27 May 2020 and reviews of the charter are conducted at least every two years.

Audit & Risk Committee Charter

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 General Manager Corporate 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.

Upcoming meeting dates

  • 20 February 2020
  • 7 May 2020
  • 30 July 2020
  • 17 September 2020
  • 22 October 2020

Committee Members

Independent Members

Mr Fred Douglas 
Ms Julie Guest B/Bus CA
Ms Lisa Ford CPA (Current Chair)

Councillor Members

Cr Ed Cox
Cr Marie Martin
Cr Libro Mustica (Mayor) – ex- officio member

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 2019. 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 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 & Risk Committee.