Audit and Risk Management Committee

Overview

Under the Northern Territory Local Government (Accounting) Regulations there is a mandated requirement for Council to establish and maintain an Audit Committee.

The Audit and Risk Management Committee is established to assist the Chief Executive Officer and Tiwi Islands Regional Council to ensure that effective internal control and risk management frameworks exists across Council operations in order to facilitate Corporate Governance best practice.

Scope

The scope of the Audit and Risk Management Committee includes, but is not limited to the following:

  • Oversight of compliance with statutory responsibilities and Council policies
  • Assessment of internal financial accounting and management controls·
  • Review of risk management strategies and initiatives·
  • Adequacy of audit scope and coverage
  • Monitoring the effectiveness and efficiency of external audit
  • Management response and timeliness of action taken to correct audit findings

The Audit and Risk Management Committee is comprised of five (5) members, consisting of three (3) elected members and two (2) independent external members.

Members

Independent Chairperson Brendan Dowd 

2nd Independent Member Sandra Cannon 

Mayor Leslie Tungatulum - Bathurst Island representative

Deputy Mayor Lynette De Santis – Milikapiti representative

Cr Therese (Wokay) Bourke – Pirlangimpi representative

Meetings

Quarterly: next meeting 17 May 2019 – Darwin

Audit and Risk Management Committee Chairperson Responsibilities

Audit and Risk Management Committee Independent Responsibilities

Terms of Reference