Commonwealth Numbered Acts

COMMONWEALTH AUTHORITIES AND COMPANIES ACT 1997 No. 153 of 1997 - SECT 32

(1) The directors of a Commonwealth authority must establish and maintain an
audit committee with functions that include:

   (a)  helping the authority and its directors to comply with obligations
        under this Act; and

   (b)  providing a forum for communication between the directors, the senior
        managers of the authority and the internal and external auditors of
        the authority.

(2) If the regulations state how the committee is to be constituted, it must
be constituted in accordance with the regulations.