Indicative Audit Committee Work Program - 2017 Tuesday, 7 February 2017 Charter / ToR Ref Topic Action 4.14 Charter Audit Committee Schedule of Meetings and Indicative Work Program for 2017 Review and adopt 5 ToR Audit Committee Performance Evaluation – consider approach Review and provide feedback 2.3 Draft LGA Long Term Financial Plan Review and provide feedback 2.3 ToR LGA 1/2 Year Budget Review Report Note and provide feedback 4.5 Charter Governance Review Project Update Review and provide feedback 2.4 ToR Public Lighting Business Case – confidential item Review and provide feedback 4 ToR Schemes Review Project Update – confidential item Review and provide feedback Monday, 6 March 2017 Charter / ToR Ref Topic Action Business Arising / Action Statement Note 4.5 Charter Governance Review Update Review and provide feedback 4 ToR Schemes Review Update – confidential item Review and provide feedback 1 ToR Review current arrangements for engagement of the LGA’s external auditor. Consider audit quality and approach (including controlled entities’ arrangements), and make recommendations to the Board as needed Recommend any changes to the Board 3 & 5 ToR Status report on progress against previous audit findings Review and provide feedback 4 ToR Public Lighting Business Case – confidential item Review and provide feedback
Tuesday, 9 May 2017 Charter / ToR Ref Topic Action Business Arising / Action Statement Note 4.5 Charter Governance Review Update Review and provide feedback 4 ToR Schemes Review Update – confidential item Review and provide feedback 1 ToR Terms of audit engagement and fees for the Year Ending 30 June 2017. Consider auditor independence, proposed audit plan, approach, scope, materiality levels Review and advise Board on adequacy 2.3 ToR Draft Annual Business Plan and Budget; Long Term Financial Plan; accounting policies and practices, consider actions / relevant policies that might be taken to enhance financial governance and sustainability Review and advise the Board re financial governance 5 ToR LGA Audit Committee performance review outcomes and draft development plan, including any recommended changes to the Committee’s Terms of Reference & Charter, composition etc Recommend any changes to the Board 3 ToR LGA risk framework and profile, internal controls, internal audit program and controls improvement plan. Consider scope of future internal audits. Review and provide feedback 3 & 5 ToR Status report on progress against previous audit findings Review and provide feedback 1 ToR Relevant documentation associated with tender for external auditor services ie. Service specification, assessment criteria, wieghtings Review and provide feedback Wednesday 26 July 2017 Charter / ToR Ref Topic Action Business Arising / Action Statement Note 4.5 Charter Governance Review Update Review and provide feedback 4 ToR Schemes Review Update – confidential item Review and provide feedback 3 ToR Review progress against risk profile, internal audit and controls improvement plan. Consider scope of future internal audits Review and provide feedback
3 & 5 ToR Status report on progress against previous audit findings Review and provide feedback 2 ToR LGA significant accounting policies Review and provide feedback 4.14 ToR Finalise preparation for the Committee’s joint workshop with the Board on 17 August. Topic for the workshop is financial sustainability; risk appetite; LGA risk profile Provide input Thursday 17 August 2017 Charter / ToR Ref Topic Action 4.14 ToR Joint workshop with the Board – financial sustainability; risk appetite; LGA risk profile Participate, discuss Tuesday, 19 September 2017 Charter / ToR Ref Topic Action Business Arising / Action Statement Note 4.5 Charter Governance Review Update Note and provide feedback 4 ToR Schemes Review Update – confidential item Note and provide feedback 3 ToR Review progress against risk profile, internal audit and controls improvement plan. Consider scope of future internal audits Review and provide feedback 3 & 5 ToR Status report on progress against previous audit findings Review and provide feedback 4.12 Charter Meet with external auditor without management present. Confirm approach and accountability of management in the audit process Discuss and receive feedback 2 & 4 ToR Review the LGA’s 2016/2017 financial statements to ensure they present fairly the state of affairs of the LGA including a focus on accounting policies and practices; accounting estimates; adjustment arising from the audit process; variances from prior years; management’s representations; auditors summary management report Review and recommend adoption by the Board 4.19 Audit Committee annual report to the Board Review and refer