55 q Annual Report 2013-2014 AUDIT


COMMITTEE Role


The Audit Committee is an advisory committee whose role is determined by the Local Government Act 1989 under Section 139, and Council. It monitors Council’s audit processes, including internal control activities. The key objective of the Audit Committee is to provide independent assurance and assistance to the Chief Executive and the Council on the organisation’s risk, control and compliance framework, and its external accountability and legislative compliance responsibilities.


Responsibilities


The responsibilities and terms of reference of the Audit Committee are clearly defined in the Audit Committee Charter, which is renewed annually and has been formally approved by Council.


Key responsibilities of the Audit Committee include a range of functional areas:


q External reporting review q Financial statement audit review q Internal audit q Legislative compliance q Internal control and risk management q Fraud prevention and awareness q Good governance


Composition


q Chair/independent member – Geoff Price q Independent members – Roy Henwood, Robin Webb (until 12/09/13) and Pina Walls (from 20/03/14)


q Council representatives – Cr David Grimble, Cr Sue Exell Ex-officio members -


q Horsham Rural City Council - Peter Brown, Graeme Harrison, Heather Proctor and Diana McDonald


q Internal Auditor – Crowe Horwath (contractor)


The Auditor General’s agent also attends meetings to report matters of significance in relation to the Financial Statements.


Internal Audit


Internal auditing is an independent, objective assurance and consulting activity, designed to add value and improve the operations of Council.


During the past 12 months, the following internal audits were conducted by Crowe Horwath, Council’s internal auditors:


q Building Maintenance - Essential Safety Measures (ESM) q IT Data Management and System Security Review


Following each of these scheduled audits, recommendations are provided with implementation actions assigned to key staff members. The Audit Committee also receives update reports in relation to any previous matters raised by the internal auditors to ensure that these are adequately addressed.


External Audit


Council’s external auditor is the Victorian Auditor General Office (VAGO) who has appointed Richmond Sinnott and Delahunty (RSD) Chartered Accountants to conduct the annual statutory financial statement audit. The Audit Committee also reviews recommendations from matters raised by other VAGO audit reports such as the performance audits.


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