Finance, Audit and Risk Committee

The ASC Finance, Audit and Risk Committee advises the Board on matters relating to ASC financial management and strategic planning, efficiency, physical assets, risk management and all aspects of internal and external audit, compliance matters and NSO finances.

During the reporting period the Committee continued to have a particular focus on reviewing and reporting on NSO finances, reviewing the ASC’s financial statements, monitoring the ASC’s PGPA Act legislative compliance, and overseeing the internal audit program.

Changes in the composition of the ASC Board in 2015–16 resulted in amendments to the membership of the Committee. The August Committee meeting was chaired by John Lee, with Andrew Plympton appointed Chair from December 2015. The Finance, Audit and Risk Committee met on five occasions during 2015–16.

Governance and Executive Performance Committee

The ASC Governance and Executive Performance Committee advises the Board on better practice corporate governance for the ASC and NSOs, and executive performance and remuneration issues.

During the reporting period, the Committee focused on monitoring NSO governance, reviewed and established performance objectives for the ASC CEO and senior executives, considered the committee structures and skills mix of the Board and Committees, reviewed arrangements for succession planning and performance development, and tracked Board member conflicts of interest. A key area of work was monitoring NSO compliance with the MSGP, and overseeing the development of the framework for the next stage of NSO governance reform.

The Governance and Executive Performance Committee met three times in 2015–16.

 * Attended a third meeting as an observer