Finance, Audit and Risk Committee

The Finance, Audit and Risk Committee provides independent advice and assurance to the Board on matters relating to Sport Australia financial management and strategic planning, efficiency, physical assets, risk management, audit, compliance matters, and NSO finances.

During the reporting period the Committee, chaired by Andrew Plympton, continued to have a focus on reviewing and reporting on NSO finances, reviewing Sport Australia’s financial statements, reviewing the appropriateness of Sport Australia’s annual performance statements, monitoring Sport Australia’s PGPA Act legislative compliance, risk management, cyber security, Sport Australia’s capital and infrastructure projects, and overseeing the internal audit program.

Members from the Finance, Audit and Risk Committee and the Governance and Executive Performance Committee met jointly as part of the April 2018 Committee meetings to consider cross-committee matters. Topics discussed were NSO finances, frequency of NSO financial reporting, sport industry growth and Sport Australia assessment of quality governance within NSOs.

The Finance, Audit and Risk Committee met on six occasions during 2017–18.

*Independent member

Governance and Executive Performance Committee

The Governance and Executive Performance Committee provides independent advice to the Board on better practice corporate governance for Sport Australia and NSOs, and on executive performance and remuneration issues.

During the reporting period, the Committee had oversight of the AIS Director recruitment process, continued its focus on governance reform in sport, strengthened and monitored performance objectives for the CEO, monitored Board and Sport Australia senior management conflict of interest declarations, extended their scope to include sport leadership talent, as well as the establishment of a group to advise the Sport Australia Board on key sector issues, and provide a platform for discussing system-wide matters that impact sport.

The Governance and Executive Performance Committee met four times in 2017–18.