The Audit Committee is an independent advisory committee of the Council established under the Section 139 of the Local Government Act 1989.
The Audit Committee Terms of Reference is reviewed annually and was endorsed by the Audit Committee on 26 June 2019 and approved by Council at its Ordinary meeting on 22 July 2019.
The Audit Committee Terms of Reference(DOCX, 175KB) sets out the Committee's objectives, authority, composition, responsibilities and reporting. The Audit Committee does not have executive powers or authority to implement actions in areas over which Council management has responsibility. The Audit Committee does not have any management functions and is therefore independent of management.
Melton City Council is committed to maintaining effective internal audit practices, inclusive of an Audit Committee that meets industry Best Practice guidelines.
As part of Council’s governance obligations to its community, the Audit Committee oversees responsibilities in relation to the following:
- Application of accounting policies
- Financial management
- Effective internal control systems
- Council policies and practices
- Compliance with applicable laws, regulations and best practice guidelines
- Risk management, in particular monitoring and controlling of community and commercial risk