Disclaimer :

This Summary of Key Outcomes is not an official record of the decisions of the FSANZ Board and does not provide full details of those decisions. The Minutes of each meeting of the FSANZ Board are the official record of the decisions made by FSANZ Board at that meeting and no reliance should be placed on this Summary of Key Outcomes.

 

FIRST MEETING

Canberra

1 July 2002

SUMMARY OF KEY OUTCOMES

The First meeting of the FSANZ Board was held in Canberra on 1 July 2002.   No standards matters were decided at the meeting as the meeting was for operational matters related to the commencement of FSANZ.   Issues raised at the meeting included the roles and responsibilities of Board members, declarations of interests, the FSANZ Budget for 2002-03, delegation of powers under the FSANZ Act and the establishment of Board Sub-committees under the FSANZ Act.

In relation to the establishment of sub-committees, the Board has agreed to the formation of a Finance, Audit and Risk Management Committee whose main role will be to oversee audit functions, financial management and internal risk management controls.  

The Board also endorsed the Standards Development Work Plan (available on the FSANZ website) as well as noting those matters currently with the Ministerial Council for consideration.

Biographical information on each member and declarations of their directorships and interests are available on the FSANZ website.