Commonwealth Consolidated Acts

FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997 - SECT 46

             (1)  A Chief Executive must establish and maintain an audit committee with functions that include:

                     (a)  helping the Agency to comply with obligations under this Act, the regulations and Finance Minister's Orders; and

                     (b)  providing a forum for communication between the Chief Executive, the senior managers of the Agency and the internal and external auditors of the Agency.

             (2)  The committee must be constituted in accordance with the regulations (if any).