Audit Committee of Council TOR revised Aug 09

THE DISTRICT COUNCIL OF MOUNT BARKER THE DISTRICT COUNCIL OF MOUNT BARKER TERMS OF REFERENCE AUDIT COMMITTEE Rev Aug 09 1.1 Establishment of Committee 1.1 Pursuant to Section 41 (and for the purposes of Section 126) of the Local Government Act 1999, the Council establishes a committee to be known as the Audit Committee. 1.2 The Audit Committee does not have executive powers and authority to implement actions in areas over which management has responsibility and does not have any delegated financial responsibility. 1.3 The Audit Committee does not have any management responsibilities and is therefore independent of Management. 2. Membership 2.1. Members of the Committee are appointed by the Council. The Committee shall consist of the Principal Member (Mayor), two (2) Elected Members of Council and two (2) independent members. 2.2. The Principal Member will hold the position of Presiding Member of the Committee. 2.3. The independent members of the Committee shall have recent and relevant governance, financial management, internal audit and/or risk management experience in the management of large organisations. 2.4. Only members of the Committee are entitled to vote in Committee meetings. Unless otherwise required by the Act not to vote, each member must vote on every matter that is before the Committee for a decision. 2.5. In accordance with the principles of open, transparent and informed decision making ...