The Audit and Risk Management Committee (ARM Committee) has a documented charter approved by the Board. The ARM Committee comprises three independent directors. Mr Ron Higham is the Chairman of the ARM Committee and Lisa Briese is the secretary. The objectives of the ARM Committee are to assist the Board to fulfil its responsibilities in relation to accounting and financial reporting practices; to establish a sound system of risk oversight, management and internal control that will effectively identify, assess, monitor and manage risk and inform investors of material changes to the unlisted trust's risk profiles. The Committee also takes a pro-active approach to risk management, ensuring that a system is in place that addresses all material internal and external risk factors facing the unlisted trusts. The ARM Committee makes recommendations to the Board.
The Committee charter includes oversight of all compliance matters. The Committee assesses at regular intervals the adequacy of the Compliance Plan, makes recommendations to the Board regarding amendments to the Compliance Plan, monitors compliance with the Compliance Plan and reports any breaches of the Corporations Act to the Board.