During the year, the annual review and update of OPC’s risk management framework was completed.
OPC has in place a Fraud Control Policy and Plan and appropriate fraud control mechanisms that meet the needs of OPC and comply with the Commonwealth Fraud Control Framework for the 2018-2019 financial year, including reporting requirements. OPC has reviewed the Fraud Control Policy and Plan during the year. The review included an assessment of risks. No additional fraud control initiatives were undertaken as a result of the review.
OPC has in place appropriate fraud prevention, detection, investigation, reporting and data collection procedures and processes that meet OPC’s specific needs and comply with the Commonwealth Fraud Control Framework.
A number of internal policies and procedures have been developed and updated to support and complement our Accountable Authority Instructions, Risk Management Policy and Plan, and Fraud Control Policy and Plan.
An integral element of OPC’s risk management framework is business continuity management (BCM).
In 2016-2017, OPC undertook a comprehensive review of the BCM framework. As a result of this review, OPC implemented the remaining actions during 2018-2019 to further strengthen this framework, including:
- updating the Business Continuity Action Plans; and
- undertaking exercises and testing of the new business continuity arrangements.