The Audit Committee is an independent advisory committee to the Bass Coast Shire Council. The primary purpose of the Audit Committee is to provide advice to Council on:
- internal and external financial reporting;
- performance reporting;
- effective management of financial and other risks and the protection of Council assets;
- compliance with laws and regulations as well as use of best practice guidelines;
- the internal audit function;
- the provision of an effective means of communication between the external auditor, internal audit, management and the Council.
The Councillors delegated to the Audit Committee are Cr Brett Tessari (Mayor) and Cr Michael Whelan.
The Independent members of the Audit Committee are:
- Mr Vincent Philpott (Chair)
- Mr Homi Burjorjee
- Mr Tim Large
The Chairman of the Bass Coast Shire Council Audit Committee is appointed by Council and is responsible for providing leadership to the Committee in fulfilling its duties and responsibilities under its Charter and any relevant legislation.
In discharging this responsibility, the Chairman must create and manage effective working relationships among the Committee, management and the internal and external auditors.
It is important that the Chairman:
- Meets the Committee’s requirements as expressed by its members from time to time;
- Acts as the Committee’s spokesperson as required (It should be noted however that the role of spokesperson is not extended to comment to the public or media);
- Reviews annually, the Audit Committee Charter;
- In collaboration with the CEO and the Internal and External Auditors creates an annual Work Plan for the Committee;
- Monitor the execution of the Work Plan and keep under review the necessity for any modifications to the Work Plan; and
- Reports to the Council on the work of the Committee in a timely and comprehensive manner.
Independent Member responsibilities
The independent members of the Bass Coast Shire Council Audit Committee are appointed by Council and are responsible for fulfilling the duties and responsibilities under the Audit Committee Charter and relevant legislation.
In discharging these responsibilities, each independent member must foster an effective working relationship with the Chairperson, other committee members, management and the internal and external auditors.
It is important that each independent member:
- Attends Audit Committee meetings;
- Prepares for all meetings by reading and understanding material distributed to them;
- At the request of the Chairperson, meets or be available for discussion with the Chairperson, other members, management or the internal or external auditor between meetings of the Committee;
- Whenever necessary or desirable to facilitate the effective performance of the Committee’s duties, attends meetings, workshops or briefings of the Council
- Engages in discussion and contributes to the debate at meetings so that all matters on the agenda are dealt with effectively and appropriately;
- Engages in regular assessments of the effectiveness of the Committee’s performance; and
- Supports the Chairperson in promoting a Committee culture characterised by: -
- The willingness of each member to use his or her best efforts in carrying out his or her duties as a member of the Committee;
- The Committee’s insistence on the highest level of integrity accountability and honesty in the actions of the Committee;
- Respect and trust among the members, management and the internal auditor and external auditor;
- The candid and timely sharing of information among the members of the Committee, management and the internal and external auditor;
- Acceptance by all members of the Committee of the right of every member to hold and express a dissenting opinion; and
- A commitment to best governance practices.