23-15 Regulation amendments prescribing requirements for audit risk and improvement committees, internal audit and risk management

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What’s new or changing

  • As foreshadowed in circular 22-41, the Local Government (General)Regulation 2022 (the Regulation) has been amended to give statutory force to key elements of the Office of Local Government’s (OLG) Guidelines for Risk Management and Internal Audit for Local Government in NSW (the Guidelines).
  • The Amendment Regulation, which is attached to this circular, commences on 1 July 2024 to give councils and joint organisations time to implement the new requirements.
  • The Guidelines have been updated to reflect the Regulation amendments as drafted.

What this will mean for your council

  • The requirements prescribed under the Regulation are largely the same as those set out in the draft Guidelines issued in December last year.
  • Some minor modifications have been made for legal reasons, but these largely give effect to the same outcomes set out in the draft Guidelines issued in December last year.
  • An overview of the amendments and any modifications are set out in the attachment to this circular.

Key points

  • The amendments do not take effect until 1 July 2024 to allow councils and joint organisations time to implement them.
  • Councils and joint…

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