The Audit and Risk Committee (ARC) meets four times a year to ensure the RTA operates within an appropriate framework of internal control and risk management, while achieving its objectives and strategies efficiently and effectively.
The chief executive officer and chief regulatory and assurance officer report to the ARC.
The committee is a combination of RTA Board members and external advisors that oversee the:
- integrity of the financial statements and reports
- accounting policies and practices
- scope, quality and independence of external audit arrangements
- monitoring of the internal audit function
- effectiveness of risk and compliance measures.
The ARC observes the terms of its charter with due regard to Queensland Treasury’s Audit committee guidelines.