The Executive Committee oversees the FWO’s corporate governance practices with support from four management committees:
- Audit Committee
- IT Projects and Capital Expenditure Sub-Committee
- Health and Safety Committee
- Diversity Council.
The Executive Committee is our chief decision-making body and is comprised of all senior executive service officers. Membership is shown at Agency overview.
The Executive Committee sets the FWO’s strategic direction, and evaluates, approves and monitors strategic, operational and financial plans to achieve a high standard of professional and ethical conduct, financial accountability and risk management.
On average, the Executive Committee met every two months and distributed meeting outcomes to staff via the intranet.
The FWO Audit Committee provides independent assurance on the agency’s financial and performance reporting, risk management framework, internal control system, and legislation and policy compliance.
The Audit Committee is comprised of two independent members and one senior FWO officer. During 2015-16, they considered internal reviews of the agency’s:
- contract management
- financial controls data analytics.
The Audit Committee also considered post-implementation reviews for major IT projects completed during the year.
IT Projects and Capital Expenditure Sub-Committee
The IT Projects and Capital Expenditure Sub-Committee provides strategic governance for major IT and capital expenditure projects.
Health and Safety Committee
The Health and Safety Committee reviews and provides recommendations for matters involving work health and safety at the FWO. This includes implementing preventative initiatives and reporting on relevant legislation. Our work health and safety outcomes are outlined at Workforce management.
The Diversity Council progresses the FWO’s diversity goals and monitors our work against diversity strategies, plans and targets.
Discussion of diversity initiatives can be found in Workforce management. Statistics on our culturally and linguistically diverse staff appears in Workforce demographics.
The FWO’s Corporate Plan sets the agency’s strategic direction for the reporting periods 2015−16 through to 2018−19. Based on this, each business area develops operational plans with performance measures. These business plans provide a link between the FWO’s strategic goals and individual performance plans. Business plans are regularly updated to reflect priority shifts.
Performance against these plans is monitored by senior management. The FWO’s performance is also scrutinised by a range of external stakeholders.
Risk and fraud management
The FWO’s Risk Management Framework facilitates the identification and management of risks across operational and corporate areas, and informs the agency’s internal audit program. Owners are assigned risks, and controls and treatments are identified through a risk register. The Audit Committee reviews the internal audit program and risk information.
The Protective Security Policy Framework provides controls for the Australian Government to protect its people, information and assets at home and overseas. In 2015-16, we complied with all 36 mandatory reporting requirements.
Fraud controls and investigations
The FWO’s 2015-16 Fraud Control Plan enabled us to manage and monitor identified fraud risks through prevention, detection and response initiatives.
All reasonable measures are taken to minimise fraud risk and to investigate and recover the proceeds of fraud against the FWO.
There were no known or suspected cases of significant fraud committed against the FWO in 2015-16.