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Audit and Risk Committee (ARC) Chairperson

ACFE | Education administration

Posted on 22 February 2023
Closed on 15 March 2023


Sessional, 2-3 years
Quarterly, Half day meetings
Melbourne CBD, online or another location
Sessional rates

About the board

The ACFE Board is required to comply with the Financial Management Act 1994 (FMA), including the Standing Directions 2018 issued by the Minister for Finance (from 29 November 2018, the Assistant Treasurer) under section 8 of the FMA. The Standing Directions specify public sector agency responsibilities to achieve a high standard of public financial management and accountability.

Standing Direction 3.2.1 sets out requirements for ACFE Board to establish an Audit and Risk Committee and the overall responsibilities of this committee. ACFE BOARD has an Audit and Risk Committee with responsibilities set out in an Audit and Risk Committee Charter approved by the ACFE Board.

The Audit and Risk Committee is an independent, advisory committee and reports to the ACFE Board. As an advisory committee, the Committee does not exercise executive powers, management functions, or hold delegated financial responsibility.

About the role

The Committee membership includes a Chairperson who is not an ACFE Board member; at least three members who are non-executive directors of ACFE Board; and must not include as members the General Manager, the Chief Finance Officer, or the internal auditors. Members are appointed by ACFE Board for a term not exceeding three years and for a maximum of two terms.

In accordance with its Charter and the Standing Directions, the Committee must be constituted by members with appropriate skills and experience to discharge the Committee’s responsibilities, with at least one member having appropriate expertise in financial accounting or auditing.

The ACFE Board uses its annual self-assessment to inform the nomination and rotation of Committee members from the Board. New members are provided with a membership induction.

In carrying out its responsibilities, the Committee, including through the Committee Chairperson have access to:

* The General Manager, ACFE Board.

* The ACFE Board Chief Finance Officer and Chief Finance Officer Delegate.

* Internal auditors.

* External auditor.

The ACFE Board empowers the Committee to:

* Authorise investigations into any matters within the Committee’s scope of responsibilities.

* Request the General Manager ACFE Board or ACFE Board, within delegation, to provide financial resources to obtain independent legal or other professional advice to assist it in undertaking its responsibilities.

* Have unrestricted access to management, employees and relevant information.

* Request management, internal audit, external audit or others to attend meetings and provide information as required.

Who we're looking for

Applicants will be shortlisted based on high-level skills, experience and knowledge in relation to all facets of audit and risk including the ability to read or understand the basic financial statements, ask relevant questions about them and interpret and evaluate the answers. The ability to enquire, evaluate and make independent judgement and the ability to offer constructive suggestions and different perspectives to management.

Applicants will need to have a thorough understanding of the Australian Accounting Standards and Financial statements.

Refer to Position description for further information.

We encourage applications from all members of the community including people with disability and will provide adjustments to the recruitment process upon request. Should you require assistance with your application, please contact ACFE and assistance will be provided.

What you need to apply

Applications should be lodged via Link . Applications should include a curriculum vitae and a cover letter of no more than 2 pages addressing the key selection criteria in the attached position description.

Successful applicants will be required to complete a ‘Declaration of Private Interests’ form and undergo a probity check.

The deadline for applications is 11:59pm Wednesday, 15 March 2023. Late applications will not be considered.

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