Governance: Activities of the Board
Governance: Activities of the Board
Governance: Activities of the Board
Principal activities
The principal activity of the Royal Automobile Association of South Australia Inc (‘RAA’) in the course of the financial year was the provision of motoring, insurance, energy and travel products and services to members. The audited financial report of RAA for the financial year ended 30 June 2024 is available on RAA’s website raa.com.au, or by request.
Directors
Information on the directors of RAA during the financial year is set out here (read more).
Board committees
Each committee operates under a charter approved by the Board. The primary functions are as follows:
Audit Committee
Responsible for reviewing and reporting to the Board on internal and external audit performance, financial policies, statements and transactions, taxation and internal control.
Risk and Compliance Committee
Responsible for overseeing the coordination of RAA’s risk management and assurance and compliance activities.
Appeals Committee
Reviews appeals by members whose membership has been refused, suspended or cancelled.
Nominations Committee
Responsible for developing and assessing persons against the Director Suitability Guidelines and endorsement criteria in respect of the election or appointment of directors. The committee is comprised of the RAA President and Chairman, Company Secretary and two independent members.
Group Governance and Remuneration Committee
Responsible for ensuring RAA’s corporate governance and remuneration framework practices and procedures are relevant and appropriate.
The committee ensures the Board and its committees operate effectively and efficiently, reviews the remuneration of non-executive directors, the Chief Executive Officer and senior executives, and oversees the administration of general meetings including Board appointments and elections.
Directors’ meetings
The table below sets out the number of directors’ meetings (including meetings of committees of the Board) held during the financial year and the number of meetings attended by each director, while he/she was a director or committee member.
Summary of meeting attendance 2023–24
Held means the number of meetings held during the financial year. Attended means the number of meetings attended by the director. *Directors who are members of this Committee do not attend any part of the meetings at which Board election matters are discussed if they are the subject of election or re-election. However, partial attendance is recorded as having attended the meeting. ^Committee membership changed mid-year. Eligible to only attend 3 meetings. **Committee membership changed in May. Eligible to only attend 2 meetings.
Held means the number of meetings held during the financial year. Attended means the number of meetings attended by the director. *Directors who are members of this Committee do not attend any part of the meetings at which Board election matters are discussed if they are the subject of election or re-election. However, partial attendance is recorded as having attended the meeting. ^Committee membership changed mid-year. Eligible to only attend 3 meetings. **Committee membership changed in May. Eligible to only attend 2 meetings.