What is the purpose of an Audit Committee?
Council has an Audit Committee that facilitates the responsible operation of Council. The Audit Committee is an independent committee of Council, consisting of five members, three of whom are independent experts in a range of areas, including financial management, business and project management. An independent member chairs the committee. Members of the Committee are:
- David Hutchings, MA(Hons)(Cantab), FCA (Chair)
- Les Thompson, B.Eng (Civil)
- Maurice Tyers
- Cr Les McPhee
- Cr Bill Croft
The Audit Committee meets four times during the year to consider issues of financial accountability, controls over Council operations, Risk Management, and issues identified during the audit of the financial statements. The Audit Committee reports its findings to Council, and makes recommendations on changes, if warranted.
In order to further enhance the valuable role of the independent Audit Committee, Johnsons MME, chartered accountants of Albury, are employed as the internal auditor, to conduct independent reviews of Council's business systems at the direction of the Audit Committee. The internal auditor reports its findings to the audit committee.
Meetings held since June 2005 and the issues considered during those meetings are as follows:
|
Meeting Date |
Issues Considered |
|
14 June 2005 |
-
Financial report on Council operations for 9 months ended 31 March 2005
-
Issues that may impact on the preparation of the year ended 30 June 2005 financial statements
-
Review of litigation, claim or contingency which could have a material effect on the financial statements
-
Scope of External Audit for year ended 30 June 2005
-
STEP Infrastructure Management Program
-
Structure and History of Council Debt
-
Disaster Recovery System
-
Controls of Major Events Support Scheme |
|
23 August 2005 |
-
Endorsement of Financial Statements for the year ended 30 June 2005
-
Consideration of a verbal report by the Agent of the Auditor General of Victoria, on conduct of the audit of the financial statements and issues identified during that process. |
|
14 December 2005 |
-
Financial report on Council operations for 3 months ended 31 September 2005
-
Response to Management Letter of issues noted during external audit
-
Report of Risk Management Review outcomes by the Internal Auditor
-
Update on a range of issues previously considered by the Audit Committee |
|
7 March 2006 |
-
Financial report on Council operations for 3 months ended 31 December 2005
-
Verbal report by Internal Audit of reviews undertaken of Contract Management System and controls over payroll masterfile changes
-
Draft policy on management assets
-
Complete suite of policies, procedures and document relating to purchasing
-
Incorporation of issues identified during the internal auditor Risk Management Review into the Risk Management Strategy |
|
6 June 2006 |
-
Financial Report for the period ending 31 March 2006 (regular report)
-
Issues that may impact on the preparation of the Financial Statements for the year ended 30 June 2006
-
Review of any litigation, Claim or Contingency which could have a material effect on the Financial Statements
-
Scope of external audit to be conducted on the Financial Statements by the Agent of the Auditor General of Victoria
-
Issues raised by external audit as a result of the interim audit visit conducted April 2006
-
Final report on investigations conducted by the internal auditor on the Contract Management System and the Payroll Master File
-
Update on issues previously considered by the committee, including leave balances, risk management schedule and follow up of swimming pool safety audit issues
-
Suspected and actual frauds, thefts and breaches of the law by management (regular report) |
|
6 September 2006 |
-
Financial Statements for the year ended 30 June 2006
-
Issues arising from the audit of the Financial Statements
-
Suspected and actual frauds, thefts and breaches of the law by management (regular report)
-
Councillor Discretionary Funds
-
Processes undertaken in relation to the dismissal of the Chief Executive Officer |
|
8 November 2006 |
-
Financial Report for the Period Ending 30 September 2006
-
Consideration of Response to the Auditor General's Management Letter issues as a result of External Audit
-
Rolling Program of Asset Revaluations
-
Report from Internal Auditors on the Review Conducted of Aged and Disability Services
-
Internal Audit Schedule for 2006/2007
-
Report on Suspected and Actual Frauds, Thefts and Breaches of the Law by Management (regular report)
-
Schedule of Recommendations from Internal Audit, and issues for action from Audit Committee and their Status
-
Community Grants Policy and Procedures |
| 22 February 2007 |
- Internal Audit program
- Financial report on Council operations for three months ended 30 December 2006
- Report on action taken in relation to internal Audit of Aged and Disability Services
- Report on works undertaken on the PS Pyap
- Update on status and range of issues previously considered by the committee
|
| 29 May 2007 |
- Report on the risk register
- Report by Internal Auditor on review conducted for Building and Planning compliance
- Financial report on Council operations for three months ended 31 March 2007
- Issues that may impact on the preparation of the Financial Statements for year ended 30 June 2007
- Report from External Auditor following interim audit
- Review of Audit Committee Charter
- Review of term of Audit Committee members
|
| 28 August 2007 |
- Financial Report for Period Ending 31 March 2007
- Draft Set of Financial Accounts 2006/07.
- Discussion with Auditor General's appointed Contractor.
|
| 18 December 2007 |
- Internal Audit Updates
- Future Audits 2007/08
- Future Audits 2008/09
- Financial Report for Period Ending 30 September 2007
- Consideration of Response to Auditor General's Management Letter
|
| 4 March 2008 |
- Local Government: Results of the 2006-07 Audits
- Financial Report for Period Ending 31 December 2007
- Update on Council's External Auditor
|
| 3 June 2008 |
- CMP Risk Register Report & Audit
- Financial Report for Period Ending 31 March 2008
- Internal Audit Reports (Johnsons MME) Fraud and Event Management
- Update on Actions to date in relation to Internal Audit Review of Building & Planning
|  Audit Committee Charter (472 KB)
|
