AUSTRAC Audit and Risk Committee Charter
The Audit and Risk Committee (ARC) gives the AUSTRAC CEO independent assurance on the agency’s financial and performance reporting responsibilities and oversight and management of risk and internal control systems. Section 45 of the Public Governance, Performance and Accountability Act 2013 requires all Commonwealth entities to have an audit committee.
The Charter is the accountable authority’s blueprint for the audit committee’s operations. It assists the accountable authority to manage and maximise the value of their audit committee.
Download the AUSTRAC Audit and Risk Committee Charter (PDF, 984KB).
This guidance sets out how we interpret the Act, along with associated Rules and regulations. Australian courts are ultimately responsible for interpreting these laws and determining if any provisions of these laws are contravened.
The examples and scenarios in this guidance are meant to help explain our interpretation of these laws. They’re not exhaustive or meant to cover every possible scenario.
This guidance provides general information and isn't a substitute for legal advice. This guidance avoids legal language wherever possible and it might include generalisations about the application of the law. Some provisions of the law referred to have exceptions or important qualifications. In most cases your particular circumstances must be taken into account when determining how the law applies to you.