Audit and Risk Committee Independent Chairs and Members Scheme

Definitions

Members

Individuals prequalified as a member have a range of skills and experience including:

• extensive senior-level experience in governance and management of complex organisations and a capacity to understand the ethical requirements of government
• functional knowledge in a range of business areas
• a capacity to form independent judgments and a willingness to constructively challenge.

Chairs

Individuals prequalified as a chair, in addition, have leadership and communication abilities along with knowledge of governance, internal audit and risk management.

General information

All NSW Government departments and statutory bodies must refer to the scheme conditions and guidelines when appointing prequalified chairs and members to their respective audit and risk committees.

All new appointments of independent chairs and members to audit and risk committees of NSW Government agencies must be made from the prequalified list.

The scheme conditions and guidelines include a code of conduct DOCX, 30.64 KB (DOCX 31KB) for scheme members and specifically exclude current employees of NSW public sector agencies (other than State Owned Corporations) from serving as independent members or chairs.

Chairs and members will need to meet the independence and conflict of interest criteria set out in the NSW Treasury Internal Audit and Risk Management Policy.

Prequalified independent chairs and members may be appointed to up to 5 NSW audit and risk committees at any one time (each shared 'cluster' committee counts as one). Both members and CEOs must make sure that this limit is not exceeded and that NSW Procurement is advised of all engagements. NSW Procurement will record this information in the Audit and Risk Committee database. A schedule is attached to the standard letter of appointment to ensure the database is kept up to date.

Resources

Download the scheme guidelines DOCX, 121 KB.

Download the scheme conditions DOCX, 335.45 KB.

To get a list of prequalified members and chairs from NSW Procurement, fill out the request form  DOC, 47 KB and email to auditriskmembers@treasury.nsw.gov.au using a 'nsw.gov.au' email address.

Before making any appointments to an Audit and Risk Committee, the department head or board of the statutory body must satisfy themselves that the appointment is compliant with Treasury Policy Paper TPP20-08.

In particular, agencies must to ensure that there are no conflicts of interest arising from Audit and Risk Committee appointments.

It is recommended that agencies use the list of indicative questions to assist agencies  DOCX, 55.49 KB.

How to apply

The scheme is open to new applicants.

Please review the scheme's application guide PPTX, 151.75 KB before completing the application. The guide is designed for new applicants and current suppliers wishing to upgrade their scheme qualification.

Apply to the scheme on eTendering.

View the selection criteria in the scheme conditions DOCX, 335.45 KB. An interview with an assessment panel may be required.

If you need help, please email auditriskmembers@treasury.nsw.gov.au

How to update your details

• Download the scheme conditions DOCX, 335.45 KB
• Download the code of conduct DOCX, 30.64 KB