The Audit and Risk Committee (ARC) was established in August 2003 to assist the Secretary, Department of Education and Training (DET) in fulfilling his oversight and governance responsibilities and obligations under the
Financial Management Act 1994 (‘the Act’).
The Standing Directions of the Minister for Finance under the
Financial Management Act 1994 (section 3.2) requires 'each public sector agency to appoint an audit committee to oversee and advise the public sector agency on matters of accountability and internal control affecting the operations of the agency'.
Unlike other executive committees, ARC is responsible directly to the Secretary, Department of Education and Training (DET), to oversee and provide advice on governance, risk management, audit and control assurance activities.
The Committee is supported by the Integrity and Assurance Division.
The current ARC includes four independent members and two internal members (departmental executives). In addition to committee members, the Chief Finance Officer and Chief Audit Executive attend all committee meetings.
For further information, see: