Meeting schedule and details
The Audit and Risk Committee will meet at least four times per year, and more often if required. Special meetings may be held to review the Agency’s annual financial statements and annual performance statements or to meet other specific responsibilities of the Audit and Risk Committee.
The Chair will call a meeting if requested to do so by the Chief Executive, and may call a meeting if requested by another Audit and Risk Committee member.
Quorum
A quorum for any Audit and Risk Committee meeting will be three members. The quorum must be in place at all times during the meeting.
Secretariat
The Chief Executive will provide resources to provide secretariat support to the Audit and Risk Committee. The Secretariat will ensure the agenda for each meeting and supporting papers are circulated, after approval from the Chair, at least one week before the meeting, and ensure the minutes of the meetings are prepared and maintained.
The secretariat will provide a clear record of meetings, minutes, decisions, and actions made at each meeting.
Any papers requiring a decision between scheduled meetings are only to be circulated out of session with the consent of the Chair. Approval from the Chair must also be sought prior to circulating papers for noting out-of-session (unless previously discussed and agreed at a meeting).
Minutes
Draft minutes must be drafted by the Secretariat and sent to the Chair within ten working days of each meeting. Following approval by the Chair, the minutes will be circulated within ten working days of the meeting to each member and observers, as appropriate.
Minutes of the preceding meeting will be confirmed at each meeting, which includes a review of the action items outstanding.
Reporting and Communications
The Chair will advise the CEO of each meeting’s key matters discussed either by correspondence or through a meeting between the Chair and CEO. The form of advice will be as agreed with the CEO., . Any matter deemed of sufficient importance will be reported to the Chief Executive immediately.
The Audit and Risk Committee will, as often as necessary, and at least once a year, provide a written report to the Chief Executive on its operation and activities during the year and confirm to the CEO that all functions outlined in this charter have been satisfactorily addressed.
Information relating to disclosure of the Audit and Risk Committee and its members will be included in the annual report. The Secretariat will Iiaise with members where necessary to obtain this information.
Induction
New members will receive relevant information and briefings on their appointment to assist them to meet their Committee responsibilities. Members will be required to hold a minimum Baseline security clearance.
Conflict of Interest Management
To the extent possible, Audit and Risk Committee members should avoid interests that conflict, or could be seen to conflict, with the role and independence of the Audit and Risk Committee.
Once a year, Audit and Risk Committee members will provide written declarations to the Chair for provision to the Chief Executive declaring any perceived potential or actual conflicts of interest they may have in relation to their responsibilities.
Audit and Risk Committee members must declare any conflicts of interest at the start of each meeting or before discussion of the relevant agenda item or topic. Details of any conflicts of interest should be appropriately minuted.
Members with a conflict of interest will notify the Audit and Risk Committee Chair as soon as these issues become apparent. Any member with a conflict of interest definition will absent themselves from discussions about relevant matters.
Review of Performance
The Chair will initiate a review of the performance of the Audit and Risk Committee at least once every two years. These reviews will be consistent with advice provided by the Department of Finance on the scope and approach of such audit and risk committee assessments. The outcomes of this assessment will be reported to the Chief Executive.
Review of the Charter
At least once a year the Audit and Risk Committee will review this Charter. A review of the Charter may also be initiated at any time by the Chief Executive.
Any changes to the Audit and Risk Committee Charter will be recommended by the Audit and Risk Committee and formally approved by the Chief Executive.
A copy of the current charter will be published on the DTA website as soon as possible after approval by the Chief Executive.