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; 66 KB]
Note: The Regulations are currently under review. If you have any questions, please contact firstname.lastname@example.org.
Committee Chair and Committee Contact Information
The current Chair of the Committee is Dr Vinay Lakra.
Contact the committee at email@example.com.
Committee Member Commitment Required
Committee key responsibilities include:
- 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
- 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
- ensuring the independence of the external auditor and reviewing the performance of the external auditor
- compliance with applicable laws, regulations, standards and best practice guidelines.
The Committee typically meet by teleconference three (3) times per calendar year (each meeting is approximately 1.5 hours in duration).
A committee member will also be required to respond to emails between formal meetings.