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Governance practices

We aim to deliver a robust, transparent, flexible and practical approach to corporate governance. As our business grows and our governance landscape shifts, we are combining existing knowledge and capabilities with new perspectives and contemporary approaches to further mature and enhance our governance and accountability.

We do this to foster the confidence and trust of our clients, stakeholders and employees, and to:

  • Preserve our reputation as a responsible government entity that is committed to meeting legislative obligations in an accountable and transparent manner
  • Be accountable
  • Be informed of changes.

Governance considerations are incorporated into all our activities, providing effective mechanisms for corporate responsibility and informed, transparent decision making.

Coal LSL has an Audit, Risk Management and Compliance Committee that receives tailored reporting on business assurance activities and on the adequacy of governance, risk and compliance frameworks.

Standard governance activities delivering value to our business on an ongoing basis include:

  • Development and implementation of the annual risk strategy and strategic risk profile, including risk appetite
  • Staying abreast of legislative changes through a system of alerts
  • Regular review and reporting on risk registers (strategic, operational and project risk)
  • Monthly whole-of-business reporting on internal controls deficiencies (incident and breach reporting)
  • Assurance mapping of the internal control environment
  • Regular reporting on established statutory and compliance obligations
  • Monitoring for new statutory and compliance obligations
  • Induction and periodic staff training on compliance policies
  • Internal audit program
  • Maintenance of our operational risk matrix to align with our current operating model
  • Maintenance of governance frameworks to align with business operations and reflect material business or legislative changes
  • Maintenance of other business frameworks to ensure they remain fit for purpose e.g. business continuity, complaints management
  • Annual business insurance renewal
  • Corporate planning and reporting
  • Risk based reviews of client records to ensure data accuracy.

Significant activities completed during 2019–20 include:

  • Risk management: implementing a Project Risk Matrix to improve assessment, monitoring and reporting of project risks
  • Quality: launching a Quality Assurance Program to strengthen our administrative change procedures when embedding future business improvements
  • Information management: improving consistency and reliability of our information as part of compliance with the National Archives of Australia’s Digital Continuity 2020 Policy. This policy aims to integrate digital information management into all government businesses to support efficiency, innovation, information re-use and accountability. On completion of the work in 2020–21, our framework (strategy, policy and guideline) will ensure Coal LSL information is: effectively governed and managed; captured, organised, classified and named consistently; maintained in appropriate systems where it can be accessed, re-used and protected; retained for as long as legally required; and disposed of appropriately.