3.   RISK, AUDIT AND POLICY COMMITTEE

CHAIR: Rachelle Williams, Chair & Finance Director until March 2019, currently vacant

2.1.  2018-19 GOALS
GOAL 1. To consolidate the Risk, Audit and Policy Committee and Finance Committee into one with a suitable Risk and Finance Director as it’s Chair

GOAL 2. To report to the Australian Charities and Not for Profit Commission (ACNC) and Australian Securities and Investment Commission (ASIC) as required for 2018/19

GOAL 3. To identify the best value and effective insurance, including Cyber insurance if required, for FSIC for 2018/19

GOAL 4. To establish the Board Skills Matrix by 30 June 2019

2.2.  REPORT
The Chair of this Committee is currently vacant, we will be seeking a new Director to fill this position at the AGM in October 2019.

Reporting requirements to the Australian Charities and Not for Profit Commission (ACNC) and Australian Securities and Investment Commission (ASIC) were met.

Quotes were obtained for 2019-20 insurance to cover our needs including Director indemnity, non-profit professional indemnity and cybersecurity. We examined workers’ compensation insurance for volunteers but the Board decided against that at this stage as we currently do not have volunteer workers. Premiums have increased, as they have for all similar insurance.

A Board Skills Matrix has commenced but has not been completed due to Directors moving on.

2.3.  2019-20 GOALS
GOAL 1. To select a suitable Director as Chair of the Risk, Audit and Policy Committee and Finance Committee into one with a suitable Risk and Finance Director as its Chair

GOAL 2. To report to the Australian Charities and Not for Profit Commission (ACNC) and Australian Securities and Investment Commission (ASIC) as required

GOAL 3. To establish the Board Skills Matrix by 30 June 2020

 

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