Governance and Accountability
Board members embrace the current corporate governance environment
as an essential element in effectively exercising leadership and
oversight in performing their functions.
Since the establishment of the Board in early 2005, members have
systematically developed corporate governance structures and policies
to meet operational needs as they arise. In developing its good governance
framework, the Board considers the key elements of good governance
as identified by the Auditor-General and the governance principles
and codes recommended by the Department of Sustainability and Environment,
adopting government standards where applicable.
Values
The Board acts to promote a culture of integrity and
accountability in pursuit of its goals and objectives. The Board
strives to incorporate
the following values in its dealings, as set out in the Public
Administration Act 2004. Summarised, these are - Responsiveness,
Integrity, Impartiality, Accountability and Respect.
The Board follows the Public Sector Principles as detailed in the
Department’s Governance Guidelines. Guidelines are available
from the DSE Customer Service Centre and are published on the DSE
website at www.dse.vic.gov.au.
Ethics Policy
To merit the trust of the community, respect of the government
and the support of the profession, Board members will comply with
the
Board’s Code of Ethics and ensure that services provided
by the Board adhere to the Government’s ethics guidelines
for public sector employees, embodying - Taking Responsibility
for Results, Respecting and Balancing people’s needs, Resolving
issues fairly, Demonstrating a spirit of service, Earning and Sustaining
Public Trust, and Making decisions objectively.
Code of Conduct
The Board adopts the Code of Conduct for the Victorian Public Sector
as published by the Commissioner for Public Employment. The document
is available on the office of Public Employment website at www.ope.vic.gov.au.
Audit Committee
Based on the size of the entity, the Board received an exemption
from establishing an audit committee and conducting internal
audits from the Minister for Finance. The Board members assume roles
and
responsibilities of an internal committee, which include:
- reviewing financial statements
- ensuring financial control systems are in place
- appointing internal auditors and liaising with internal and
external auditors
- oversight of the audit process
- reviewing and acting on audit reports
- oversight of management of financial risks
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