The Boroondara Volunteer Resource Centre is advertising this role on behalf of The PMI Victorian History Library Inc.

The PMI Victorian History Library Inc. (formerly the Prahran Mechanics’ Institute (PMI) was established in 1854. It is a community owned and run library, specialising in the history of Victoria, Australia. It is a central resource for research into the history of Victoria. (See website for more information.) 

The Library is administered by a voluntary Board of six people, supported by five staff and 30 volunteers.

The Library has current and non-current assets of $14m. Further information including the Library’s annual financial statements are on the ACNC website.

The Finance, Audit and Risk Committee is the most important committee of the Board, as its aim is to maintain strong overall financial management and risk mitigation.

The Committee is advisory only and the Chair reports to the Board via the Committee’s minutes of meetings and attendance at Board meetings.

Subject to Board approval, the Committee can obtain independent legal counsel, specialist accountants or experts to advise or assist in the conduct of its investigations/ enquiries.

The Chair is responsible for leading the following tasks:

• Reviewing and advising the Board on the Library’s financial management and financial sustainability
• Reviewing and evaluating internal control policies and procedures to prevent and detect fraud, errors and misstatements
• Preparing and advising on financial reporting to the Board and external authorities, including advising on accounting principles and policies impacting the financial statements
• Considering and overseeing any action required from external audit reports
• Determining if an internal audit is necessary and overseeing any action required
• Overseeing the Library’s risk management framework and processes
• With the Board Secretary, evaluating the adequacy and effectiveness of legal and regulatory compliance control and reporting systems.

Terms of reference for the Committee are available on request.