‘Governance’ refers to how the union is managed and how authority is exercised and controlled within the union. Governance influences the priorities of the union and the manner in which they are achieved, as well as how financial and reputational risks are monitored and assessed, and how performance is improved and managed.
What is the role of the Audit and Finance Committee?
The Audit and Compliance Committee is the financial committee of management of the union. The Audit and Compliance Committee consists of the Assistant Secretary-Treasurer and four (4) members of the Union Council, appointed by the Union Council. The Audit and Compliance Committee meets on a monthly basis and provides written reports on its activities to the Union Committee. Its duties include, but are not limited to: preparing budget and cashflow forecasts, closely examining financial statements on a regular basis and monitoring and protecting the funds and property of the union.
What is the role of the Union Committee?
The Union Committee’s role is to transact all the business of the Union and to provide direction on a month to month basis. It is made up of the five senior officials plus five ordinary members.
What is the role of the Union Council?
The Union Council is the supreme governing body of the Union. It is akin to a board of directors and consists of the senior elected officers of the Union and twenty five (25) Councillors. The Union Council provides the overall strategic direction of the Union and has the power to implement policies to manage the Union, make rule changes and review the decisions of the Union Committee.
What accounting standards does the HSU now meet?
The HSU now meets general standards of accounting and reporting that are required of companies. These standards are higher than the reporting standards under the Fair Work (Registered Organisations) Act and the NSW Industrial relations Act. Our financial accounts are independently audited to ensure your money is properly spent.