About the scheme
This scheme provides a list of prequalified independent chairs and members to serve on audit and risk committees of NSW Government departments and statutory bodies. In April 2012, the ownership of the prequalification scheme: Audit and risk committee independent chairs and members (the scheme) was transferred from the Department of Premier and Cabinet to The Treasury. The Department of Finance, Services and Innovation administers the scheme on behalf of the 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.
- From 30 April 2009, 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 revised 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). It is the responsibility of both prequalified members and CEOs to ensure that this limit is not exceeded and that the Department of Finance, Services and Innovation(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.
Range of products/services
Individuals prequalified as a member will possess a range of skills and experience including:
- extensive senior level experience in governance and management of complex organisations and a capacity to understand the ethical requirements of government
- functional knowledge in a range of business areas
- a capacity to form independent judgments and a willingness to constructively challenge.
Individuals prequalified as a chair, in addition, possess leadership and communication abilities along with knowledge of governance, internal audit and risk management.
Tools, templates and resources
Information for buyers
How to buy from this scheme
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).
Agencies and members are to comply with the scheme conditions. To obtain a list of pre-qualified members and chairs from DFSI, NSW Government agencies and statutory corporations must submit a written request on the request form.(DOC,46KB)
The request form must be submitted by email from a 'nsw.gov.au' email address to firstname.lastname@example.org
A list of prequalified members and/or chairs will be returned by email to the requesting agency. Agencies may then make their own selection from the list.
Information for suppliers / participants
How to apply
This scheme is open to new applicants. Full selection criteria are included in the scheme conditions(DOCX,306KB). An interview with an assessment panel may be required.
Changes to the application process
The application form is now available online. Please note that we no longer accept paper based applications.
For enquiries relating to government policy on internal audit and risk management, please contact NSW Treasury on 02 9228 5932.