Corporate governance is the framework of rules, relationships, systems and processes within and by which authority is exercised and controlled in organisations.
GAWB believes good corporate governance should encourage performance, innovation and value, whilst providing high levels of accountability and risk management, thereby contributing to stakeholder satisfaction.
The Board has approved the following policies which form part of GAWB's Governance Framework:
- Governance Charter
- Audit Committee Charter
- People and Culture Committee Charter
- Internal Audit Charter
- Authorities and Delegations Manual
- Risk Management Policy
OUR BOARD AND EXECUTIVE TEAM
The Board is committed to providing effective governance and strategic direction to ensure GAWB's long-term success.
COMMUNICATION WITH RESPONSIBLE MINISTER
GAWB is responsible to Dr Anthony Lynham MP, Minister for Natural Resources, Mines and Energy.
Information on GAWB and its performance is communicated to the responsible Minister through five yearly and annual plans and quarterly and annual reports. The Chairperson liaises with the responsible Minister and provides ad hoc briefings as required.
GAWB's system of internal controls consists of organisational structures, plans, policies, procedures, processes, tasks and other factors designed to respond to operational, financial, compliance and any other risks.
The system is designed to meet the requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2009.
The Audit Committee assists the Board to assess, oversee and enhance GAWB's corporate governance, including its system of internal controls.
GAWB's internal audit function regularly reviews and tests the effectiveness of the system and reports to the Audit Committee. An Internal Audit Plan is developed annually. The implementation and status of audit recommendations is reviewed at each meeting.
GAWB is committed to managing all risks at strategic and operational levels through the identification, assessment, treatment, monitoring and review of risks. GAWB has implemented a risk management system based on AS/NZS ISO 31000: Risk Management Principles and Guidelines.
The Board and the Management team are committed to high standards of integrity, professionalism and accountability.
GAWB has developed a Code of Ethics and Conduct that outlines how we work; our expectations and the standard of behaviour expected of employees. Together with our values, the Code helps us to understand our personal responsibilities and obligations and guides us if we face an ethical dilemma or conflict of interest in our work.
PUBLIC INTEREST DISCLOSURES
GAWB is committed to ensuring that any employee who makes a public interest disclosure can seek protection under the Public Interest Disclosure Act 2011.