2023 - 2024 Audit and Risk Committee Charter

The charter has been approved by the Secretary on the advice of the ARC.

In accordance with subsection 45(1) of the Public Governance, Performance and Accountability Act 2013, the secretary of the department established the Audit and Risk Committee (ARC).

Subsections 17(1) and 17(2) of the Public Governance, Performance and Accountability Rule 2014 (the Rule) established mandatory functions for Audit and Risk Committees:

1. The accountable authority of a Commonwealth entity must, by written charter, determine the functions of the Audit and Risk Committee for the entity.
2. The functions must include reviewing the appropriateness of the accountable authority's:
   • financial reporting;
   • performance reporting;
   • system of risk oversight and management
   • system of internal control.
3. The ARC will also review:
   • internal audit resourcing and coverage in relation to the department's key risks, and recommend approval of the internal annual audit plan by the secretary
   • internal and Australian National Audit Office (ANAO) audit reports, providing advice to the secretary about significant issues identified, and the implementation of agreed actions in accordance with the department's agreed approach.

To address the functions of the ARC, as far as is practicable, the ARC should indicate which matters it will consider during any given year in a forward plan (the work plan), noting that it may consider other or additional matters in response to changes in the department's operations and environment.