Audit Committees

Duration: 9:30am to 12:30pm 
Delivery Options: LGA, Webinar and Regional – please email Emma Urvan to discuss details

Members of Local Government Audit Committees (including independent members).
Course Overview:
The Local Government Act 1999 requires Councils to establish audit committees and Section 126 sets out the principal functions and extent of authority for audit committees.
This session will highlight the legislative responsibilities of audit committees and the critical role they play in the financial reporting framework of Councils. It will also deal with the relationship between Councils' finance committees (or similar) where they exist and audit committees.

Participants will gain an understanding of the audit committee's role in:
- Councils' financial reporting and its monitoring

- Internal controls and risk management systems
- Audit committee work programs and their construction
- Whistleblowers' policies and procedures
- Internal audit and the Committee deliberations
- External audit and its relationship with the committee
- Dealing with emerging risks

Further, the training will demonstrate how the following documents work together to provide an Audit Committee with the framework to deliver the activities and responsibilities listed above:
- Relevant extracts from the Local Government Act 1999 and associated Financial Regulations
- Example of Audit Committee Terms of Reference
- Example Template of an Audit Committee Work Program

The following training reference material will be used in this session (LGA Information Papers): These papers are available on the LGA website and will be provided at the face to face session at the LGA.

Rex Mooney is a Local Government Finance Specialist. He is a Chartered Accountant with over 30 years of experience in the not for profit sector, the last thirteen being spent in the Local Government Sector.
Rex has undertaken numerous projects across many SA & NT based Councils specialising in asset management planning, long-term financial planning, annual business planning & annual budgeting, annual financial statement preparation, budget reviews, financial performance reports, special purpose reporting, Audit Committee membership and management, economic modelling.