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Corporate Governance - Board Committees

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During the year, the Board reviewed the role and functions of its Committees. The Committees are:

The Charter of each Committee describes the roles and responsibilities of the Committee as well as various governance and machinery matters.

Audit and Risk Committee

The Audit and Risk Committee's role is to monitor and report to the Board on corporate governance, compliance and risk management processes, including external audit and internal audit functions of CFA.

It does this by reviewing and monitoring the:

CFA's internal audit function is undertaken by PricewaterhouseCoopers, which reports to the Audit and Risk Committee at each of its meetings.

The Audit and Risk Committee receives advice from the Auditor-General, who is responsible for auditing CFA's annual financial statements.

Membership:

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Remuneration and Appointments Committee

The Remuneration and Appointments Committee has been established to take specific responsibility for recommending to the Board CFA's policy and practice for executive officer appointments and remuneration review processes. It is also responsible for reviewing and recommending to the Board remuneration and terms and conditions concerning all non-executive employees.

The Remuneration and Appointments Committee:

Membership:

Industrial Relations Committee

The Industrial Relations Committee's roles and responsibilities are to assist the Board to ensure that well-developed industrial relations strategies and systems are in place, and that due diligence reporting occurs in its defined areas of responsibility.

The role of the Industrial Relations Committee is to:

Membership:

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Attendance at Board Meetings

  Board
Meetings
Audit
and
Risk
Remuneration
and
Appointments
Industrial
Relations
Number of meetings to 30 June 2008 14 5 3 2
Kerry Murphy 13 - 2 2
Zena Burgess1 10 - 1 1
Kevin Erwin2 11 - - -
David Gibbs 13 2 2 2
Claire Higgins3 8 2 3 -
Lyn Gunter4 11 - - -
Peter Harmsworth 13 - 3 2
Peter Jamvold 14 - - -
Ken King 13 5 - -
Peter Marke 14 3 - -
Michael Tudball 14 5 - 2
Frank Zeigler 13 - - -
Clif Lang5 - 5 - -

Notes:

1 Term Expired 1 April 2008
2 Appointed 25 September 2007
3 Appointed 2 October 2007
4 Appointed 1 July 2007
5 Term Expired 30 June 2006. Appointed as independent Chair of Audit and Risk Committee

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