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The Board's role and responsibilities
The Board acts in the best interests of ANI as a whole and on behalf of the Shareholder Ministers, representing the Commonwealth, and is accountable to the Shareholder Ministers for the overall strategic direction, management and corporate governance of ANI.
Subject to the PGPA Act, the constitution and directions from the Shareholder Ministers, the Board is responsible for:
- determining and fostering a corporate culture within the organisation that is appropriate to ANI;
- overseeing ANI, including control and accountability systems;
- appointing and monitoring the performance of the CEO and the Company Secretary and, where appropriate, the removal of the CEO and Company Secretary;
- providing strategic advice to management;
- approving and monitoring the progress of major capital expenditure projects, capital management, acquisitions and divestitures, as well as financial and other reporting;
- approving annual budgets and key performance indicators, and reviewing ANI’s performance against them and monitoring the implementation of necessary corrective actions;
- reviewing and interrogating systems of risk management, internal control and legal compliance to satisfy itself that appropriate compliance frameworks and controls are in place;
- reviewing and overseeing the implementation of ANI’s Code of Conduct;
- appointing Board committees and approving the composition, and any charters, of Board committees;
- monitoring and verifying compliance with legal and regulatory requirements, ethical standards and policies; and
- exercising due diligence to ensure that ANI complies with its work, health and safety obligations.