Section 2 - Sugar Research and Development Corporation

Due diligence
At every meeting in 2010–2011, the Board
confi rmed that all decisions had complied with
the requirements of the due diligence checklist.
Management
The Corporation’s Business Process Management
System (BPMS) is an essential tool to manage risk
and control fraud and provides quality assurance
of the daily management of the SRDC. Its annual
audit is overseen by the Audit Committee.
CAC Act compliance
A report indicating CAC Act compliance and
fi nancial sustainability for the 2010–2011 fi nancial
year was approved by the Board on 24 August
2011 and forwarded to the Department of
Finance and Administration and the Department
of Agriculture, Fisheries and Forestry shortly after
the Board meeting and approval granted.
Risk management
The SRDC is committed to managing risk
to continue to protect its:
��stakeholders ��employees and their skills
��environment ��quality of service
��assets and intellectual property
��contractual and statutory obligations
��corporate image and reputation.
The Board reviews the Fraud Control Plan,
Risk Management Plan and Business Continuity
Plan via the Audit Committee annually. The
SRDC complies with the policies of the Protective
Security Manual.
Section 4
STATUTORY REPORTING
Intellectual property
management
SRDC incorporates an Intellectual property
management (IPM) plan developed in
consultation with major R&D providers into
its application and project management system
to ensure that intellectual property issues are
considered fully during the development of
project proposals and the management of
approved projects.
Although formal ownership of intellectual
property developed in most SRDC-funded R&D
projects is vested in the research organisations,
the Corporation retains an interest in capitalising
on it and is a party to several patents and
provisional patent applications.
Environment Protection and
Biodiversity Conservation Act
The SRDC’s obligations under section 516A
of the Environment Protection and Biodiversity
Conservation Act 1999 (the EPBC Act) require
consideration of the environmental impacts
of proposals and projects. Research project
proponents are required to outline potential
risks relating to the project, and appropriate
management strategies.
These are considered during assessment
of proposals. Potential and/or actual impacts
of existing projects are also considered during
the assessment of milestone reports and in
project reviews. No proposals or projects with
adverse environmental consequences were
identifi ed in 2010–2011. In accordance with the
requirements of the EPBC Act SRDC has reported
to the Australian Government on how SRDC’s
actions accord with the principles of ecologically
sustainable development.
SRDC Annual Report 2010–2011 65