The scheme provides a list of prequalified independent chairs and members to serve on audit and risk committees of NSW Government departments and statutory bodies.
The Department of Finance, Services and Innovation (DFSI) manages the scheme on behalf of NSW Government.
All NSW Government departments and statutory bodies must refer to the revised scheme conditions and guidelines when appointing prequalified chairs and members to their respective audit and risk committees.
All new appointments of independent chairs and members to audit and risk committees of NSW Government agencies must be made from the prequalified list.
The scheme conditions and guidelines include a code of conduct (DOCX 31KB) for scheme members and specifically exclude current employees of NSW public sector agencies (other than State Owned Corporations) from serving as independent members or chairs.
Chairs and members will need to meet the independence and conflict of interest criteria set out in the NSW Treasury Internal Audit and Risk Management Policy.
Prequalified independent chairs and members may be appointed to up to 5 NSW audit and risk committees at any one time (each shared 'cluster' committee counts as one). Both members and CEOs must make sure that this limit is not exceeded and that DFSI is advised of all engagements. DFSI will record this information in the Audit and Risk Committee database. A schedule is attached to the standard letter of appointment to ensure the database is kept up to date.
a capacity to form independent judgments and a willingness to constructively challenge.
Individuals prequalified as a chair, in addition, have leadership and communication abilities along with knowledge of governance, internal audit and risk management.
Download the scheme guidelines (DOCX 284KB).
Download the scheme conditions (DOCX 306KB).
Before making any appointments to an Audit and Risk Committee, the department head or board of the statutory body must satisfy themselves that the appointment is compliant with Treasury Policy Paper 15-03.
In particular, agencies must to ensure that there are no conflicts of interest arising from Audit and Risk Committee appointments.
It is recommended that agencies use the list of indicative questions to assist agencies (DOCX 56KB).
To get a list of prequalified members and chairs from DFSI, fill out the request form (DOC 46KB) and email to auditriskmembers@finance.nsw.gov.au using a 'nsw.gov.au' email address.
The scheme is open to new applicants.
View the selection criteria in the scheme conditions (DOCX 306KB). An interview with an assessment panel may be required.
Apply to the scheme on NSW eTendering.
If you need help, please email auditriskmembers@finance.nsw.gov.au or contact the NSW Procurement Service Centre.
Download the code of conduct (DOCX 31KB).
For enquiries about government policy on internal audit and risk management, please contact NSW Treasury on 02 9228 5932.