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A key element of effective audit committees is the existence of a strong and robust relationship with external audit.

This relationship should be built on open, regular and frank communication between the committee and the auditors.

Do you have internal controls in place to protect your entity or council against fraudulent email attempts?

Do you have a peppercorn lease? Peppercorn leases are leases with nominal rent. This might be $1, or even as low as a peppercorn.

Regulatory compliance is an entity's adherence to laws, regulations, policies and guidelines relevant to its business processes.

Should Australia develop a simpler, and better, reporting framework—particularly for entities that are not listed?

When we ask this question, most people respond with, ‘Yes’, or a more emphatic, ‘Yes!’.

Each year, we publish a three-year plan containing our proposed audit topics.

We’re starting to prepare our next plan—Strategic Audit Plan 2019-22.