Internal Audit

The Audit Committee was established by Council in February 2015 having an essential role in the governance framework. It provides Council with independent assurance and assistance in the areas of risks, internal controls, compliance and financial reporting.

The Audit Committee is made up of 3 external members of Council one of whom is the Chair and 2 councillors one of whom is the Mayor. The Audit Committee works under the Audit Committee Charter as resolved by Council. 

The Committee has no executive powers, except those expressly provided by the Council.

The responsibilities of the Committee include:

  • Risk Management
  • Control Framework
  • External Accountability
  • Legislative Compliance
  • Internal Audit
  • External Audit

Activities of the Internal Audit Function

The Internal Audit Manager reports administratively to the General Manager and functionally to the Audit Committee. The Internal Auditor works under an Internal Audit Charter as resolved by the Audit Committee.

Independent Internal Audit functions provide continuous review of the effectiveness of risk management, control and governance by:

  • providing independent, unbiased assessment of councils operations;
  • offering management information on the effectiveness of risk management, control and governance processes;
  • acting as a catalyst for improvements in risk management, control and governance processes;
  • advising management on what it needs to know, when it needs to know it.;
  • economic, effective and efficient and ethical use of resources; and
  • safeguarding of assets

Internal audit works to support Council, the executive management and stakeholders by

  • reviewing the organisations achievement of objectives
  • assessing is decisions are properly authorised
  • evaluating the reliability and integrity of information
  • ensuring assets are safeguarded
  • assessing compliance with laws, regulations, policies and contracts
  • considering the efficiency, effectiveness, economy and ethics of business activities
  • reviewing opportunities for fraud and corruption
  • following up previous audits to assess if remedial action has been effectively implemented
  • looking for better ways of doing things.

Download

2016-2017 Yass Valley Council Internal Audit Report

Internal audit Annual Report 2015/2016