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Audit Committee

Reporting directly to the RANZCP Board, the Audit Committee oversees and monitors the College's audit processes, including the College's internal control activities.

Audit Committee Regulations [PDF; 59 KB]

Contacts

The Chair of the Audit Committee is Dr Kym Jenkins. Contact the committee at board_audit@ranzcp.org.

Elections and appointments

The Audit Committee comprises:

  • President Elect
  • Chair, Finance Committee
  • Chair, Corporate Governance and Risk Committee
  • Fellow, independent (appointed by the Board from a pool of nominees from the Fellowship)

Responsibilities

The Audit Committee is responsible for:

  • monitoring and reviewing overall audit policy, financial planning and financial strategies of the College, and the process for their implementation
  • identifying risks associated with the audit function, and for reporting high level risks to the Board, with recommendations for mitigation
  • the application of accounting policies
  • financial management
  • protection of the College’s assets
  • compliance with applicable laws, regulations, standards and best practice guidelines
  • monitoring the College’s exposure to fraud
  • ensuring the College’s financial system is audited annually
  • recommending to the Board the appointment and terms of engagement of the external auditors and their audit plan
  • providing a forum for communication between the Board and the internal and external auditors
  • ensuring the independence of the external auditor
  • reviewing the annual declaration of independence from the external auditors
  • reviewing the performance of the external auditors
  • development and implementation of an annual audit plan.