About the Committee
Composition
The Audit and Risk Management Committee (ARMC) has five major areas of responsibility:
- Monitoring internal control and risk management
- Monitoring of internal audit activities
- Monitoring of external audit activities
- Oversight and appraisal of financial reporting
- Oversight of any fraud or ethics issues
Membership consists of a minimum of four and a maximum of six persons (excluding co-opted members) and at least one member of Council.
At least one ARMC member must be a member of the professional accounting or audit bodies in Australia and have a professional accounting, management consultancy or audit background. At least one member should possess expertise within the education sector. Membership is approved by Council.
The initial term of office of members is a period not exceeding three years, and may be extended for further terms subject to the composition and skill requirements of the Committee.