Audit & Risk Committee

Membership

Voting members (4)

 

CECV Director

Mr Francis Moore (Chairperson)

CECV Director

Mr Stephen Elder

External representative

Mr David Bristow

External representative

Mr John Hurren

Non voting members (2)

 

Director, Finance, HR & Administration (CFO), 
Catholic Education Melbourne

Mr David Wilkes

Assistant Director, Finance, HR & Administration, 
Catholic Education Melbourne

Mrs Jane Callaghan

 

Terms of Reference

  1. Establishment
    The CECV Audit and Risk Committee (ARC) was established by the Catholic Education Commission of Victoria Ltd (CECV) in 2006. The ARC plays a key role in assisting the CECV Board to fulfil its corporate governance and oversight responsibilities in areas such as the company’s financial reporting, government financial accountability and compliance responsibilities, internal control systems, risk management systems and the internal and external audit functions.
  2. Functions and Responsibilities
    The ARC focuses on the appointment, remuneration, performance and independence of external and internal auditors, and the integrity of the audit processes as a whole; the effectiveness of the systems of internal control and risk management; compliance with legal and statutory requirements; and compliance by management with Board delegations. The ARC is responsible for:
reviewing the integrity of the general purpose financial statements (lodged with the Australian Securities and Investments Commission) and government recurrent grant and system authority acquittals
reviewing external and internal audit plans annually
reviewing the recommendations made by the auditors to strengthen internal controls including risk management systems (including the CECV Risk Register)
reviewing the results of the external and internal audits
reviewing the basis and content of reports issued by the auditors
making recommendations on the appointment of the internal/external auditors
ensuring that the CECV meets its accountability obligations on a timely basis in relation to funding agreements with government and other stakeholders
ensuring compliance with applicable laws and regulations (including legal issues and occupational health and safety)
ensuring all CECV policies and procedures relating to external audit, internal audit and risk management are regularly reviewed and amended to best achieve the objectives of the CECV.