The main responsibilities of the Finance Audit and Risk Committee are to:
- Review and report independently to the Trustees on the Annual Report and all other financial information published by the Trust;
- Assist the Trustees in reviewing the effectiveness of the Trust’s internal control environment covering:
- Effectiveness and efficiency of operations
- Reliability of financial reporting
- Compliance with applicable laws and regulations
- Determine the scope of the internal audit function and ensure its resources are adequate and used effectively, including coordination with the external auditors; and
- Oversee the effective operation of the risk management framework.
- The FARC meets monthly and makes recommendations to the Trust on specific issues.
The Finance Audit Risk Committee (FARC) consists of the following member’s independent from Management:
Tony Ficca – Chair
