Audit & Risk Committee
The Audit and Risk Committee (the Committee) is an independent advisory Committee to Council established under section 54 of the Local Government Act 2020.
The Committee's objective is to provide appropriate independent advice and recommendations to Council on matters relevant to its Charter in order to facilitate decision-making by Council in relation to the discharge of its accountability requirements.
The Charter specifies that at the Committee’s discretion, complaints from the public which may expose inappropriate practices within the Frankston City Council and any subsidiaries may be considered.
The Committee has been established to monitor, review and advise Council on the systems and activities of Council in ensuring:
- Reliable and complete financial and performance reporting
- High standards of corporate governance
- Appropriate application of accounting policies
- Compliance with applicable laws and regulations
- Effective management and monitoring of all risks, controls and insurances
- Effective and efficient internal and external audit functions
- Appropriate measures to provide early warning of any issues affecting the organisation’s financial well-being
- The level and effectiveness of appropriate Business Continuity and Disaster Recovery planning
- Maintenance and fostering of an ethical environment and oversight of related party transactions
- Fraud prevention, including corruption.
The Committee comprises of five (5) members as follows:
- One Independent Chairperson
- Two Independent Members
- Two Councillors
During 2022, independent members of the Committee will receive a sitting fee of $1,638 and the chairperson an additional $430.
Audit and Risk Committee Members
Lisa Tripodi - Chairperson
Independent Member - Audit & Risk Committee
Ms Tripodi was appointed on 1 December 2019. Ms Tripodi has over 20 years business experience in the provision of assurance services in both the public and private sectors including State and Local Government, education, health and banking.
Ms Tripodi is a qualified Certified Practicing Accountant and an independent member on eight Audit Committees. She has tertiary qualifications in Economics and Commerce and has until recently been a Partner for Accounting and Assurance services at Oakton.
Mick Ulbrick
Independent Member - Audit & Risk Committee
Mr Ulbrick was appointed to the Audit and Risk Committee in January 2021. He has more than 40 years experience in government and local government and has held a range of senior executive positions to the level of Chief Executive. He has qualifications in Economics, Statistics, Education and Information Systems and is a graduate of the AICD. In addition, Mr Ulbrick has completed the AICD’s Mastering the Boardroom course.
Mr Ulbrick is a Commissioner with the Victorian Local Government Grants Commission and sits on a number of Audit and Risk Committees within the local government and TAFE sectors.
Trudy Ararat
Independent Member
Ms Ararat was appointed to the Audit and Risk Committee in January 2022 and has extensive experience in audit and risk management including legislative and regulatory obligations. She has experience as a senior manager in both the private and public sectors and has tertiary qualifications in Nursing, Law and a Graduate of the AICD.
Currently the Chair of the Audit, Finance & Risk Committee at Kooweerup Regional Health Service and non-executive director of St John Ambulance Victoria.
Members from Frankston City Council
