Governance and Risk Advisory Committee
- Ascend GRC
- Mar 12
- 2 min read
Terms of Reference
1. Purpose
The Governance and Risk Advisory Committee provides strategic oversight, expert guidance, and recommendations to Ascend GRC’s Managing Director and Executive Team on governance, risk management, and compliance matters. The committee ensures that Ascend GRC upholds best practices in corporate governance, mitigates organisational risks, and aligns with Australian regulations and international standards.
2. Objectives
The committee’s key objectives are:
Governance Excellence – Ensure Ascend GRC operates within a strong governance framework, maintaining transparency, accountability, and ethical decision-making.
Risk Oversight – Identify, assess, and advise on key risks impacting the organisation and recommend risk mitigation strategies.
Regulatory Compliance – Monitor compliance with relevant Australian regulations, frameworks, and international governance standards.
Policy Development – Assist in the development, review, and refinement of governance and risk policies.
Stakeholder Engagement – Provide insights on regulatory trends, industry expectations, and best practices that impact governance and risk.
3. Membership
The committee shall comprise individuals with expertise in corporate governance, risk management, regulatory compliance, and ethics, including:
Independent governance and risk experts
Legal and regulatory professionals
Senior executives from relevant industries
Representatives from government, academia, or professional associations
The Managing Director and Executive Team may attend meetings in a non-voting capacity.
4. Roles and Responsibilities
Committee members are responsible for:
Reviewing and advising on Ascend GRC’s governance and risk management frameworks.
Assessing emerging risks and proposing proactive mitigation strategies.
Ensuring Ascend GRC’s policies align with industry best practices and legal requirements.
Providing independent oversight on compliance and ethical governance matters.
Advising on internal control mechanisms to safeguard organisational integrity.
5. Meeting Frequency and Structure
The committee shall meet at least quarterly or as required.
Meetings shall be chaired by an appointed Committee Chairperson with an agenda distributed in advance.
The Committee Chairperson shall report key recommendations to the Managing Director and Executive Team.
6. Reporting and Accountability
The committee reports to the Managing Director and provides recommendations to the Executive Team.
Meeting minutes and key decisions shall be documented and shared with the Executive Team for review and implementation.
The committee may request additional reports or data as required to fulfil its advisory role.
7. Review of Terms of Reference
These Terms of Reference shall be reviewed annually to ensure relevance and effectiveness. Any proposed changes must be approved by the Managing Director.