Audit committee
86 Audit committee
(1) A council must, by resolution, establish and maintain an audit committee.
(2) An audit committee consists of the persons appointed, by resolution, by the council to be members of the committee.
(3) The members of an audit committee may consist of, or include, persons who are not members of the council.
Note for subsection (3)
A member of the council's staff is eligible for appointment as a member of an audit committee (even though staff members are disqualified from membership of the council itself).
(4) However, the chairperson of an audit committee must not be a member of the council or a member of the council's staff.
(5) The terms and conditions on which a person holds office as a member of an audit committee are to be as determined by the council.
The council may, by resolution, abolish an audit committee.
(7) The council must establish or abolish an audit committee in accordance with any guidelines that the Minister may make.
This Act’s bill:Explanatory statementSecond reading speech
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