The objective of the Audit Committee is to provide independent assurance and assistance to the Norfolk Island Regional Council on risk management, control, governance and external accountability responsibilities.
In December 2016 Council adopted an Audit Committee Charter, this document contains information on the roles and responsibilities of the Audit Committee.
In September 2018 Council adopted an Internal Audit Charter. This Internal Audit Charter is a formal statement of purpose, authority and responsibility for the internal audit function at the Norfolk Island Regional Council.
In February 2021, the elected members of Council were suspended and a temporary Administrator, Mike Colreavy was appointed by the Assistant Minister, whilst a Public Inquiry was held into the financial affairs of Council. The Interim Administrator Mike Colreavy, convened a new Audit Committee in May 2021 which is now operating under the title of Audit, Risk and Improvement Committee (ARIC).