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Managing risk and compliance
Hearing Australia recognises that risk management is an integral part of our day to day operations. We are conscious of our risks and make ongoing improvements to the way we manage them. Understanding risks and managing them appropriately increases our ability to make good decisions. Applying this due diligence allows us to provide excellent services to clients and helps us achieve our strategic objectives and priorities.
Our Risk Management Policy and Risk Management Framework are consistent with the International Standard ISO 31000:2018 Risk Management—Guidelines, the Commonwealth Risk Management Policy and formalise our system of risk oversight and control as required by Section 16(a) of the Public Governance Performance and Accountabilities Act 2013. Our Risk Management Policy ensures that a clear and consistent approach to risk management is applied across our business. The Risk Management Framework provides a formal process and helps us to understand and actively manage risk in our day to day work.
In addition, in September 2018, Hearing Australia entered into an undertaking with the Australian Competition and Consumer Commission (ACCC) in relation to concerns it raised regarding several Facebook posts made in 2017 and the wording of an annual letter to clients. As at 30 June 2019, Hearing Australia had met all its obligations outlined in the undertaking and established a comprehensive compliance program.