Netball WA Audit And Finance Committee Terms Of Reference (2019).pdf

(NWA), Glass Jar Australia Ltd. (GJA), and West Coast Fever Ltd. (WCF).

Key Responsibilities:

Financial Risk Management: Safeguard NWA's financial reporting integrity, internal control systems, and overall financial health.
External Auditing Oversight: Review NWA’s financial statements, ensure independence and competence of external auditors, and resolve any disagreements between management and auditors.
Advice and Recommendations: Provide appropriate guidance to the NWA Board on financial reporting, internal controls, and audit management across all entities.

Committee Composition:

At least two members from NWA's Board (including a qualified accountant or finance professional).
NWA CEO.
Up to one additional independent member with relevant skills and experience (determined by the Board).
The Secretary will be the CEO’s Executive Assistant.

Authority:

Investigate financial matters, seek explanations from management, meet with external auditors, and resolve disagreements.
Engage external professionals as needed for reviews or investigations.
Access all relevant books, records, facilities, and personnel to fulfill its duties.

Meetings:

Minimum of six meetings per year (more frequent as required).
Quorum requires two members (including CEO) and voting is by majority.
Meetings can be held remotely via conference call or similar technology.
External auditors may request meetings.
Annual meeting with external auditors to discuss relevant matters.

Conflict of Interest:

Committee members must disclose any potential conflicts of interest.
* Members with conflicts must abstain from discussions and voting on affected issues.