Eoi - Audit, Risk & Improvement Committee (Aric)

Independent Chair $2,000 per meeting (excluding Super and GST)
- Independent Member $1,500 per meeting (excluding Super and GST)
- Part time

**Background**

Woollahra Council is committed to open and transparent governance that satisfies community expectations and best practice standards.

As part of the overall governance framework, Council’s Audit, Risk & Improvement Committee (ARIC) plays an important role in strengthening risk management and corporate governance practices within Council. This is in line with the current Office of Local Government (OLG) guidelines on Audit, Risk & Improvement Committees.

Through this Expression of Interest (EOI) process, Council is seeking to appoint persons with appropriate skills for the role of an Independent Chair and Independent Member of the Audit, Risk and Improvement Committee.

**Audit, Risk and Improvement Committee (ARIC)**

The objective of Council’s ARIC is to enhance the Council’s existing governance framework, risk management practices, control, strategy and performance environment, by providing independent assurance, oversight and assistance to the Council on key aspects of its operations.

ARIC’s role is to review aspects of Council’s operation and provide advice and guidance to Council for the purpose of improving the performance of its functions.

The approach the Committee adopts, in its interaction with senior management, will have a direct bearing on the effectiveness of the Committee. It is the responsibility of the Committee to promote a positive culture of continuous improvement to ensure its effectiveness.

The membership of the Audit, Risk and Improvement Committee is currently comprised of three independent members (including one who is the Chair) and Councillor representation.

Council will generally seek to ensure a rotational expiry of terms for Committee members.

**Eligibility and Selection Criteria for the Chair**

The following are the essential and desirable criteria that will be relied upon for the selection of the successful **Chair**:
Essential:
a) Leadership qualities and the ability to promote effective working relationships in complex organisations;
b) An ability to communicate complex and sensitive assessments in a tactful manner to the council’s internal audit coordinator, senior management and the mayor and councillors;
c) A sound understanding of:
i. the principles of good organisational governance and capacity to understand local government accountability, including financial reporting;
ii. the business of the council or the environment in which it operates;
iii. internal audit operations, including selection and review of the council’s internal audit coordinator; and

iv. of risk management principles.

d) Extensive senior level experience in governance and management of complex organisations, an ability to read and understand financial statements and a capacity to understand the ethical requirements of government (including potential conflicts of interest);
e) Functional knowledge in areas such as risk management, performance management, human resources management, internal and external auditing, financial reporting, accounting, management control frameworks, internal financial controls, governance (including planning, reporting and oversight), or business operations;
f) A capacity to form independent judgements and a willingness to constructively challenge/question management practices and information; and

g) A professional, ethical approach to the exercise of their duties and the capacity to devote the necessary time and effort to the responsibilities of the chairperson of an audit, risk and improvement committee.

Desirable:
a) Possession of a relevant professional qualification or membership (e.g., Institute of Internal Auditors (IIA), CPA Australia (CPA) and Chartered Accountants Australia and New Zealand (CA).

**Eligibility and Selection Criteria for the Members**

The following are the essential and desirable criteria that will be relied upon for the selection of the successful **Members**:
Essential:
a) An ability to read and understand financial statements and a capacity to understand the ethical requirements of government (including potential conflicts of interest);
b) Functional knowledge in areas such as risk management, performance management, human resources management, internal and external auditing, financial reporting, accounting, management control frameworks, internal financial controls, governance (including planning, reporting and oversight), or business operations;
c) A capacity to form independent judgements and willingness to constructively challenge/question management practices and information;
d) A professional, ethical approach to the exercise of their duties and the capacity to devote the necessary time and effort to the responsibilities of an independent member of an audit, risk and improvement committee; and

e) Preparedness to undertake any training on the operation of audi