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Corporate governance

Governance refers to processes by which organisations are directed and controlled — including, characteristics such as authority, accountability, stewardship and leadership. Corporate governance is concerned with structures and processes for decision making, and with controls and behaviour within organisations that support effective accountability for performance outcomes.

The FRDC’s general governance arrangements are established by legislation and government policies and reporting requirements. In addition to the requirements of the PIRD Act, which includes an annual operational plan, a research and development plan and an annual report, the Corporation also operates under the provisions of the PGPA Act which applies high standards of accountability for statutory authorities.

The board and staff are strongly committed to ensuring good corporate governance. In doing so, the focus is on policies, structures, processes, controls, behaviours and transparency. To support the FRDC’s high level of commitment to these principles, a full list of FRDC policies and copies of the financial statements are available from the FRDC website — www.frdc.com.au.