The department’s corporate governance practices define how we manage outcome and program responsibilities, and control business internally and externally. The department has an organisational committee structure to meet its strategic objectives. This ensures the department continually improves business and financial effectiveness and aligns them with government and organisational objectives.
As a result of the Machinery of Government changes in February 2020, memberships of the Executive Board and subordinate committees were updated to integrate all departmental functions.
Figure 4 shows the department’s governance committees at 30 June 2020.
Figure 4: Governance committees, 30 June 2020
The department’s governance practices comply with all statutory requirements and are regularly reviewed to ensure they remain relevant and effective.
Our capital budget, business planning and risk management processes are closely integrated.
Business, workforce and risk management plans for divisions detail how to achieve the strategic priorities set out in the department’s corporate plan and manage major risks.
The department’s internal audit function provides independent, objective assurance and consulting services that add value to and improve our operations. The Audit Committee Charter is available on the department’s website at https://www.industry.gov.au/about-us/what-we-do/assurance-and-auditcommittee/committee-charter. Details of Audit Committee membership are in Appendix A5.