Description
The Department of Premier and Cabinet, in conjunction with the NSW Treasury and the Department of Commerce, has established the Prequalification Scheme: Audit and Risk Committees (the Scheme). The Scheme establishes a list of prequalified independent chairs and members who can be appointed by Chief Executives to serve on Audit and Risk Committees of NSW Government agencies. This follows the Review of Internal Audit Capacity in the NSW Public Sector.
Attachments
Detailed Outline
The Department of Premier and Cabinet, in conjunction with the NSW Treasury and the Department of Commerce, has established thePrequalification Scheme: Audit and Risk Committees (the Scheme). The Scheme establishes a list of prequalified independent chairs and members who can be appointed by Chief Executives to serve on Audit and Risk Committees of NSW Government agencies. This follows the Review of Internal Audit Capacity in the NSW Public Sector. The report is available at:http://www.dpc.nsw.gov.au/about_us/our_structure/performance_review_unit
The NSW Treasury will issue a circular and policy guidance relating to internal audit and risk management in NSW in mid 2009.
Guidelines on the operation of the pre-qualification scheme are attached. The following requirements are included:
- From 30 April 2009, all new appointments of independent chairs and members to Audit and Risk Committees of NSW Government agencies must be made from the prequalified panel.
- Current NSW public servants employed under the Public Sector Employment and Management Act 2002 can no longer serve as an independent member or chair of an audit and risk committee for another NSW Government agency. This is to ensure that independence, real and perceived, is maintained.
- Chairs and members will need to meet the independence and conflict of interest criteria set out in the forthcoming NSW Treasury Internal Audit and Risk Management Policy.
- Independent chairs or members may be appointed to no more than five NSW Audit and Risk Committees at any one time.
John Lee
Director General
Overview
Compliance
- Not Mandatory
AR Details
- Date Issued
- May 4, 2009
- Review Date
- Jun 13, 2024
- Replaces
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- Replaced By
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Contacts
- Contact
- Contact us
- Phone
- 02 9228 5555
- Publishing Entity
- Department of Premier and Cabinet
- Issuing Entity
- Department of Premier and Cabinet