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 Environment, Land, Water and Planning,
adopting government standards where applicable.
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:
To merit the trust of the community, respect of the government
and the support of the profession, Board members will comply with
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
- respecting and balancing people’s needs
- demonstrating a spirit of service
- earning and sustaining
- making decisions objectively.
Code of Conduct
The Board adopts the Code of Conduct for the Victorian Public Sector
as published by the Victorian Public Sector Commission.
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
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
- oversight of the audit process
- reviewing and acting on audit reports
- oversight of management of financial risks