LOCAL GOVERNMENT ACT 2009 - SECT 105 Auditing, including internal auditing

LOCAL GOVERNMENT ACT 2009 - SECT 105

105 Auditing, including internal auditing

(1) Each local government must establish an efficient and effective internal audit function.

(2) Each large local government must also establish an audit committee.

(3) A
"large local government" is a local government that belongs to a class prescribed under a regulation.

(4) An
"audit committee" is a committee that—

(a) monitors and reviews—

(i) the integrity of financial documents; and

(ii) the internal audit function; and

(iii) the effectiveness and objectivity of the local government’s internal auditors; and

(b) makes recommendations to the local government about any matters that the audit committee considers need action or improvement.