Annual Report - Screen Australia

FILMS WITH A
THEATRICAL RELEASE
GONE
Universal Pictures Intl.
19 July 2007
LUCKY MILES
Dendy Films
19 July 2007
THE HOME
SONG STORIES
Dendy Films
23 August 2007
DR PLONK
Palace Films
23 August 2007
FORBIDDEN LIE$
Palace Films
13 September 2007
THE DECEMBER BOYS
Roadshow
20 September 2007
SEPTEMBER
Hopscotch
29 November 2007
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NIGHT
Dendy Films
7 February 2008
THE BLACK
BALLOON
Icon Films
6 March 2008
DEATH DEFYING
ACTS
Dendy Films
13 March 2008
HEY HEY,
ITS ESTHER
BLUEBURGER
Buena Vista Intl.
20 March 2008
GLOBAL
HAYWIRE
Hopscotch
10 April 2008
UNFINISHED SKY
Palace Films
19 June 2008
HEY HEY, IT’S ESTHER BLUEBURGER
CORPORATE GOVERNANCE
STATEMENT
THIS STATEMENT OUTLINES THE
MAIN CORPORATE
GOVERNANCE PRACTICES IN
PLACE THROUGHOUT THE
FINANCIAL YEAR.
BOARD OF DIRECTORS
ROLE OF THE DIRECTORS
The primary role of the board is
the achievement of the
corporation’s policy objectives.
To fulfil this role, the board is
responsible for the overall
corporate governance of the
corporation including
implementing its strategic
direction, approving and
monitoring capital expenditure,
setting remuneration, establishing
and monitoring the achievement
of management’s goals and
ensuring the integrity of internal
control and management
information systems. It is also
responsible for approving and
monitoring financial and
other reporting.
The board has delegated
responsibility for operation and
administration of the corporation
to the chief executive officer and
executive management.
BOARD PROCESSES
The board has established a
framework for the management
of the corporation including a
system of internal control, a
business risk management process
and the establishment of
appropriate ethical standards. To
assist in the execution of its
responsibilities, the board has also
established an audit committee.
The agenda for meetings is
prepared in conjunction with the
chairperson, chief executive officer
and company secretary. Standing
items include the chief executive
officer’s report, financial reports,
strategic matters, governance
and compliance. Submissions are
circulated in advance.
DIRECTOR EDUCATION
The corporation has a formal
process to educate new directors
about the nature of the business,
current issues and the corporate
strategy. Directors also have
the opportunity to meet
with management to gain a
better understanding of
business operations.
ACCESS TO CORPORATION
INFORMATION
Each director has the right of
access to all relevant corporation
information and to the corporation’s
executives. This process is
formalised in a written protocol
which requires any requested
information be made available to
all directors. The advice received by
the director is made available to all
other members of the board.
COMPOSITION OF THE BOARD
The names of the directors of the
corporation in office at the date
of this report are set out in the
Directors’ Report on page 37 of
this report.
The composition of the board is
determined using the following
principles:
a minimum of three and a
maximum of nine directors, with
a broad range of expertise
all board members are
independent non-executive
directors
a number of directors have
extensive knowledge of the film
and television industry as
producers
a non-executive independent
director is appointed as
chairperson
a maximum period of six years
service, subject to re-election
every three years.
An independent director is a
director who is not a member of
management (a non-executive
director) and who:
has not within the last three
years, been employed in an
executive capacity by the
corporation
within the last three years,
has not been a principal or
employee of a material
professional adviser, or a
material consultant to
the corporation
has no material contractual
relationship with the corporation
other than a director of the
corporation.
AUDIT COMMITTEE
The audit committee has a
documented charter, approved by
the board. The chairperson may
not be the chairperson of the
board. The committee advises on
the establishment and
maintenance of a framework of
internal control for the
management of the corporation.
The members of the audit
committee during the year were:
Mr P Oneile
(appointed as chairman 1 July 2005)
Mr P Davey
(appointed 1 July 2005)
Mr A Walton
(appointed 9 February 2006)
The external auditors, the chief
executive officer and chief
commercial officer, are invited to
audit committee meetings at the
discretion of the committee. The
committee met two times during
the year and committee members’
attendance record is disclosed in
the table of directors’ meetings.
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