Queensland Consolidated Regulations

LOCAL GOVERNMENT REGULATION 2012 - REG 211

211 Audit committee meetings

(1) The audit committee of a local government must—

(a) meet at least twice each financial year; and

(b) review each of the following matters—

(i) the internal audit plan for the internal audit for the current financial year;

(ii) the internal audit progress report for the internal audit for the preceding financial year including the recommendations in the report and the actions to which the recommendations relate;

(iii) a draft of the local government’s financial statements for the preceding financial year before the statements are certified and given to the auditor-general under section 212 ;

(iv) the auditor-general’s audit report and auditor-general’s observation report about the local government’s financial statements for the preceding financial year; and

(c) as soon as practicable after a meeting of the committee, give the local government a written report about the matters reviewed at the meeting and the committee’s recommendations about the matters.

(2) At a meeting of the audit committee—

(a) a quorum is at least half the number of members of the committee; and

Examples—

1 If the committee consists of 4 members, a quorum is 2.

2 If the committee consists of 5 members, a quorum is 3.

(b) either—

(i) the chairperson presides; or

(ii) if the chairperson is absent, the member chosen by the members present as chairperson for the meeting presides.

(3) The audit committee may, for performing its functions under subsection (1) (b) , seek information or advice from the person who has carried out the internal audit.

(4) The chief executive officer must present the report mentioned in subsection (1) (c) at the next meeting of the local government.