Join the Assembly's Finance, Audit & Risk Committee
November 21, 2022
The Assembly Finance Audit and Risk Committee (AFARC) is seeking a new member to fill a vacancy as an existing member retires in mid 2023. The appointment is for an initial three-year term.
The Committee is established pursuant to Uniting Church Regulation 18.104.22.168.
Responsibilities of the Committee, as per the Regulations, include:
i. be accountable to the Assembly and its Standing Committee;
ii. make to the Assembly such reports and recommendations on financial matters and policies as the Assembly may require or the Finance, Audit and Risk Committee considers appropriate.
iii. assist the Standing Committee to discharge its responsibility to exercise due care, diligence and skill in relation to:
(1) selection and application of accounting policies;
(2) financial budgeting, recording, monitoring and reporting;
(3) management and internal controls;
(4) business policies and practices;
(5) compliance with applicable laws, regulations, standards and best practice;
iv. review and if necessary initiate improvements in the quality of internal and external financial reporting to the Assembly and its agencies;
v. review and if necessary initiate improvements in the effectiveness of internal and external audit functions and advise regarding auditors;
vi. provide a formal forum for communication between the Standing Committee, senior financial management and the external auditor;
vii. monitor audit and risk management systems put in place by Assembly agencies;
viii. initiate action to investigate or intervene in any agency/activity of the Assembly where such action is warranted by an audit finding or risk situation.
The membership of the Committee shall be in accordance with Regulation 22.214.171.124, with the following additional criteria also applying, as per the Committee’s Charter:
Appointed Committee members must:
i. act in the interests of the Assembly as a whole;
ii. commit to devote the time necessary for the Committee to carry out its responsibilities
iii. be experienced in governance, strategic planning, financial management and/or risk management and decision making for entities of the size and complexity of the Assembly;
iv. have relevant professional qualifications and/or experience; and
v. have an understanding of the context and polity of the Assembly.
Appointed Committee members:
a. may not also be a member of the Assembly Investment Committee;
b. may not be an employee of the Assembly or its agencies or entities;
c. should ideally be a member of the Uniting Church but no more than two (2) non-members may be appointed;
d. shall serve for a maximum duration of nine (9) consecutive years; and
e. shall not derive any benefits or remuneration for their services other than the reimbursement of bona fide travel and accommodation costs incurred in attending meetings.
The Committee may co-opt non voting members for the purposes of workload management, succession planning or to fill identified skills gaps, for periods of up to eighteen months. No more than three co-opted members may be part of the Committee at any one time. Co-options will be advised to the ASC at the meeting following appointment.
When appointing members to the Committee, the ASC shall be cognisant of Regulation 3.8.1, especially having regard to the Basis of Union paragraph 15. Diversity of Committee membership in its broadest sense shall be sought.
The Committee currently holds “full” meetings around 4 times a year, with approximately 3 shorter, special purpose meetings on top of that. The Committee enjoys a mix of video and face-to-face meetings.
If you would like further information regarding the activities of the Committee, please contact Leo Iosifidis, Assembly’s National Director Strategic Finance and Administration, at Leoi@nat.uca.org.au. To express interest in this opportunity, please send Leo a short cover letter addressing relevant matters from the above and a short resume.