Appendix 5: Sample acceptance and acknowledgement letter
We encourage entities to adapt this example to ensure that it is suitable and appropriate for their particular circumstances.
Acceptance and acknowledgement letter - external members
I, _________________________ accept the invitation to sit on the XXXX Audit Committee.
I understand that the term of the role is for two years (24 months). My tenure is renewable by further invitation and acceptance.
In accepting the role of an External Member of the Audit Committee, I have read the Terms of Reference of the Committee and I acknowledge the following Code of Conduct expectations:
- I will declare any conflict of interest (perceived or actual) between my personal or business interests and the duties of the Committee.
- If an interest is likely or would, if publicly known, be perceived as being likely to interfere with the exercise of my independent judgement, then I will report the interest, financial or otherwise, to the Chairperson and will fully disclose it to the Committee before the matter giving rise to the interest is considered. I accept that I may be asked to withdraw from that part of the meeting where the particular matter is being considered.
- I accept that I must not receive gifts, hospitality, or benefits of any kind from a third party that might be seen to compromise my personal judgement or integrity. I will immediately report any offer or receipt of such gifts, hospitality, or benefits to the Chairperson.
- During my tenure as External Member, I will not carry out additional or other services for the organisation that may prejudice my role on the Committee.
- I will treat the information and matters discussed at Committee meetings with due regard to any confidentiality and sensitivity of the information that may arise from time to time. (Any regard for confidentiality, however, should not undermine the transparency and accountability expected of the Audit Committee processes; nor should it limit or compromise the independent role expected of external members.)