Board Committees
The Board has established four committees: the Audit and Finance Committee, the Compliance Committee, the System Operations Committee, the Undesirable Trading Situation (UTS) Committee.
The Audit and Finance Committee advises on the quality and integrity of the Authority's financial reporting, including managing the relationship with the external auditor. It also considers whether appropriate governance, policies and operating processes are in place to identify and manage risk, and oversees and assesses the internal audit process.
The Compliance Committee makes decisions on alleged breaches of the Act, various regulations, and the Code. It determines appropriate enforcement responses, whether initial settlement should be accepted or further investigation undertaken, and makes recommendations to the Board regarding decisions to approve settlements, the laying of formal complaints with the Rulings Panel, and instigating prosecutions.
The System Operations Committee oversees the performance management of the system operator, identifies any emerging system security risks and addresses any other matters relating to the system operator's obligations under the Code.
The Undesirable Trading Situation (UTS) Committee, which comprises all Board members, decides whether any events constitute a UTS. The Authority may investigate any potential UTS and, should it determine the existence of a UTS, direct that one or more remedial actions to correct the UTS be undertaken, including suspending Code requirements and imposing new requirements on participants.
This page is related to: About the Authority.