Risk and Assurance CommitteeKomiti Kaute me te Aukati Mōreareatanga

To monitor the Council’s treasury activities to ensure that it remains within policy limits. Where there are good reasons to exceed policy, that this be recommended to Council. 

To review the Council’s insurance policies on an annual basis. 

To review, in depth, the Council’s annual report and if satisfied, recommend the adoption of the annual report to Council. 

To work in conjunction with Management in order to be satisfied with the existence and quality of cost-effective health and safety management systems and the proper application of health and safety management policy and processes. 

To work in conjunction with the Chief Executive in order to be satisfied with the existence and quality of cost-effective risk management systems and the proper application of risk management policy and processes, including that they align with commitments to the public and Council strategies and plans. 

To provide a communications link between management, the Council and the external and internal auditors.   

To engage with Council’s external auditors and approve the terms and arrangements for the external audit programme. 

To engage with Council’s internal auditors and approve the terms and arrangements for the internal audit programme. 

To monitor the organisation’s response to the external and internal audit reports and the extent to which recommendations are implemented. 

To engage with the external and internal auditors on any one-off assignments. 

To work in conjunction with management to ensurre compliance with applicable laws, regulations standards and best practice  guidelines. 

risk management and internal audit programmes 

terms of the appointment and engagement of the audit with the external auditor 

additional services provided by the external auditor. 

the proposal and scope of the internal audit 

The Audit and Risk Committee can conduct and monitor special investigations in accordance with Council policy, including engaging expert assistance, legal advisors or external auditors, and, where appropriate, recommend action(s) to Council. 

The Audit and Risk Committee can recommend to Council: 

Adoption or non-adoption of completed financial and non-financial performance statements. 

Governance policies associated with Council’s financial, accounting, risk management, compliance and ethics programmes, and internal control functions, including the: Liability Management Policy, Treasury Policy, Sensitive Expenditure Policy, Fraud Policy, and Risk Management Policy. 

Accounting treatments, changes in generally accepted accounting practice (GAAP). 

New accounting and reporting requirements.