Inaugural meeting Audit and Risk Committee
Agenda Items – 17 June 2015 Meeting
1. Welcome by Chair of Audit and Risk Committee
2. Apologies
3. Declaration of Conflict of Interest
4. Overview of the role of the Audit and Risk Committee
5. Presentations by each of the Directors on their divisions and functions
6. Special Agenda Items
a. Adoption Draft Internal Audit Charter
b. Adoption of Schedule of work program for Audit and Risk Committee
c. Adoption of Internal Audit KPI’s
d. Adoption of Interim internal audit work program
e. Noting of Audit and Risk Committee Charter (as resolved by Council Res No. xx/15)
7. Other Business
8. Next Meeting
Audit and Risk Committee Meeting Schedule (DRAFT)
Financial year 2015/2016
July
Aug
Sept
Meeting 1: ?? Sept
2015
Financial Statements
review meeting
 Refer below
Oct
Nov
Dec
Jan
Feb
March
Meeting 2: ?? Dec
2015
Standard Agenda Items
 Refer below
Meeting 3: ?? March
2016
Standard Agenda Items
 Refer below
Special Agenda Items
o Significant
Engineering
Projects
o
Special Agenda Items
 Review of Audit
Committee Charter (2
yearly hereafter)
 Review of Risk Appetite
Statement
 Review of Risk
Management Policy
 Audit and Risk
Committee input to
Internal Audit planning
for the coming year
April
May
June
Meeting 4: ?? June
2016
Standard Agenda
Items
 Refer below
Special Agenda Items
 Review and endorse
3–year Strategic
Internal Audit Plan
 Review and endorse
Annual Internal
Audit Work Plan
2016/2017
 Review of Internal
Audit Charter
(annually)
Standard Agenda Items – All Meetings
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Welcome
Apologies
Declaration of Conflict of Interest
Minutes of Previous Meeting
Business Arising from the Minutes
Special Agenda Items
Status Report – Risk Management
including review of Risk Management Plan
(risk register)
Status Report – Fraud and Corruption
Control Activities
Status Report – External Audits completed
during quarter
Status Report – Internal Audit including
review of completed Internal Audit
Reports
Follow–up implementation of audit
recommendations
Other Business
Next Meeting
Financial Statements
Review
To be held when the
External Auditor’s Report is
received
 Review External Auditors
report: Note if compliant
with Local Government
Code of Accounting
Practice and Financial
Reporting
 Review and comment
upon financial statements
 Review and comment
upon External Audit
opinion
 Review and comment
upon management letter
Special Agenda Items
To be considered in coming years
as Council’s internal audit and
risk management functions
mature
Special Agenda Items
 Fraud and Corruption Control
Plan including Fraud Risk
Assessment
 Risk Management Plan
 OLG Compliance Report for
previous year
 Quality Assessment report on
Internal Audit conformance to
professional standards for
previous year
 Business Continuity planning
(program of tasks / activities)
 ICT Disaster Recovery Plan
 Sewer Disaster Recovery Plan
 Financial Management Plan