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 2020-2021 financial year, including reporting requirements. OPC has reviewed the Fraud Control Policy and Plan, including 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).
Over the last few years, OPC undertook a comprehensive review of the BCM framework and implemented a variety of actions to further strengthen this framework, including:
- updating the Business Continuity Action Plans; and
- undertaking exercises and testing of the new business continuity arrangements.
We continued our focus on the BCM framework, working on simplifying the material to support us better during an emergency.