Overview
The standing directions of the Minister for Finance under the Financial Management Act 1994 (section 3.2) require 'each public sector agency to appoint an audit committee to oversee and advise the public sector agency on matters of accountability and internal control affecting the operations of the agency'.
Unlike other executive committees, the Audit and Risk Committee (ARC) is responsible directly to the secretary, to oversee and provide advice on:
- governance
- risk management
- audit and control assurance activities.
The current ARC includes four independent members and one internal members (departmental executives). In addition to committee members, the chief finance officer and chief audit executive attend all committee meetings.
More information
- Audit and Risk Committee Terms of reference (DOCX, 79KB)
- Standing Directions of the Minister for Finance
Committee members
The committee comprises 4 independent members and 1 internal members.
Independent members
Helen Thornton - Chair
Appointed: 1 March 2017
Current term concludes: 30 June 2025
Helen Thornton is an experienced non-executive director and is currently on the boards of Treasury Corporation Victoria, ISPT Pty Ltd, Ansvar Insurance Pty Ltd, Yarra Valley Water, Austin Health and Legal Practitioners Liability Committee.
Helen is also the independent Chair of the Audit and Risk Committee for the Department of Health.
She is a Chartered Accountant with extensive experience in finance, risk management, governance and both internal and external auditing. Helen was the Vice President of Risk Management at BlueScope Steel Ltd and has held senior positions at BHP Billiton Ltd, KPMG and Deloitte.
Helen is a member of the Institute of Chartered Accountants and the Australian Institute of Company Directors.
Education:
- Bachelor of Economics (Monash)
- Chartered Accountant (CA) – Institute of Chartered Accountants (Australia)
- Graduate - Australian Institute of Company Directors
Andrew Nicolaou
Appointed: 1 January 2020
Current term concludes: 31 December 2025
Andrew is an experienced non-executive director with extensive skills and expertise in assurance, risk management, governance, financial management and performance consulting. He has had 38 years in professional practise with PwC including 24 years as a Partner. In that time, his role included leading PricewaterhouseCoopers Government Practice in Victoria, interacting with senior executives, Cabinet Ministers, Parliamentarians and boards.
Andrew currently serves as Chair of the audit, risk, and governance committees for the Department of Transport, Grampians Wimmera Mallee Water, Fire Rescue Victoria, and the Victorian Parliament. Andrew is a Director and Audit Committee member of the Victorian Funds Management Corporation.
Andrew specialised in advising financial institutions in banking, insurance, funds management and treasury in both the private and government sectors. Andrew is a Fellow of the Institute of Chartered Accountants in Australia, a Graduate Member of the Australian Institute of Company Directors and a Fellow of the Institute of Public Administration Australia.
Education:
- Bachelor of Economics - Monash
- Fellow Chartered Accountant (FCA) - Institute of Chartered Accountants (Australia)
- Graduate - Australian Institute of Company Directors
- Fellow Institute of Public Administration Australia (FIPAA)
Natalie Foeng
Appointed: 1 June 2021
Current term concludes: 31 December 2025
Natalie Foeng has diverse and extensive experience across professional services, ASX listed entities, finance, risk, governance and the public sector. Her current and previous senior executive roles have been in corporate finance, global shared services, supply chain and enterprise risk.
Natalie is currently the Chief Financial Officer of Yarra Valley Water. She brings to the Committee, best practice financial oversight, strategy and risk management, audit and assurance, corporate governance, and business improvement. Her extensive career includes professional services at Telstra Corporation Limited, Pacific Brands Limited and PricewaterhouseCoopers.
Natalie is a member of the Institute of Chartered Accountants (Australia and New Zealand) and the Australian Institute of Company Directors.
Education:
- Bachelor of Commerce (Accounting) – (University of Adelaide)
- Chartered Accountant (Institute of Chartered Accountants Australia and New Zealand)
- Graduate - Australian Institute of Company Directors
Goran Mitrevski
Appointed: 1 August 2024
Current term concludes: 31 July 2027
Goran Mitrevski has extensive experience in risk management, assurance, governance, and business improvement in both public and private sector. He has significant skills and experience in Risk Management and Assurance.
Goran is the Executive Manager - Finance Risk and Corporate at Macedonian Community Welfare Association. Goran also currently serves as the Chair of the Audit and Risk Committee of Bass Coast Shire Council and Chair of the Audit and Risk Management Committee of Greater Shepparton City Council.
Goran is a Graduate at the Australian Institute of Company Directors, Fellow Member of the Australian Society of Certified Practicing Accountants, Member of the Institute of Internal Auditors Australia and Member of the Risk Management Institute of Australasia Ltd.
Education:
- Certified Internal Auditor
- Certification in Risk Management Assurance
- Bachelor of Commerce (Deakin University)
Executive members
Chris Thompson, Regional Director, South Western Victoria Region
Appointed: 1 March 2020
Current term concludes: 28 February 2026
Chris Thompson commenced as Regional Director of the South Western Victoria Region of the Department of Education and Training in June 2021. The South Western Victoria Region stretches from the Melbourne CBD, through the western suburbs of metropolitan Melbourne to the regional centres of Ballarat, Geelong, Warrnambool and Horsham to the South Australian border. The Region is responsible for approximately 450 schools and 700 early childhood services.
Before his current role, Chris was the Assistant Deputy Secretary of the Schools and Regional Services Group in the Department of Education and Training. The position was responsible for supporting the strategy and operations of Victoria's government school system – including the Department's four regions – and security and emergency management. Chris led the Department's COVID response from January 2020 to June 2021.
Chris has previously held executive roles in the Department's North-Western Victoria Region, and the Department's central office, including roles responsible for education policy relating to languages, sports and multicultural, Koorie and rural students. Chris has previously worked in the Victorian Departments of Premier and Cabinet, Planning and Community Development and Human Services.
Education:
- Bachelor of Arts (Honours)/Bachelor of Laws – Monash University
- Executive Master of Public Administration – University of Melbourne/Australia and New Zealand School of Government
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