This section details AAF Company boards and committees and our corporate governance and management structure which streamline our decision making.
Board of Directors
The Board of Directors currently comprises eight serving ARA members and one APS member. The Chief Army normally appoints the Director General Personnel – Army as Chair. The Board is responsible for the management of the Company in accordance with the Constitution and other applicable legislative requirements. The Board oversees all strategic elements and performance of the Company’s activities.
The AAF Company has established an Audit Committee as required by rules underpinning the Public Governance, Performance and Accountability Act 2013. The committee provides the Board additional assurance regarding the quality and reliability of financial information used by it and provided to stakeholders pursuant to the AAF Company’s statutory reporting requirements. The focus of the activities of the Audit Committee is to provide confidence in the credibility and reliability of financial statements and other financial information released to various stakeholders.
While not limiting the scope of assessments, the Audit Committee provides assurance on the maintenance of accounting records, reports to the Board, banking operations and insurance matters. The Committee also reviews plans (i.e. Risk Management and Fraud Control Plans, Protective Security Plan and Corporate Plans) and year end Financial Statements prior Board clearance or approval.