AnnuAl REPORT 2011-2012 - Sbs

GovERNaNCE
Statement on governance
elements of good corporate governance in place at
SbS include: corporate planning; business planning; an
Audit and Risk committee; clear delegations of authority;
project (program) management; policies for statutory
compliance; codes of conduct and ethics; review
processes; budget information linked to all planning
processes; and regular monitoring and reporting to the
SbS board.
Good corporate governance at SbS is also based on
an acceptance by all staff that the highest standards of
integrity and ethical behaviour are expected of them, as
well as transparency and consistency in all their actions.
SBS accounting Manual
SbS’s financial policies and procedures are contained in
the SbS Accounting Manual which is widely distributed
throughout SbS. the Manual is updated frequently
throughout the year.
SBS Risk Management Plan
the SbS Risk Management Plan is regularly updated.
it identifies and addresses the management of the
major risks and opportunities facing SbS. the SbS Risk
Management Plan and risk assessment processes are
regularly revised. the goals behind risk management
in SbS are:
• to provide an assurance that SbS has identified its
highest-risk exposures and has taken steps to properly
manage these;
• to ensure that SbS’s business planning processes
include a focus on areas where risk management
is needed;
• to ensure the integration of the various and many risk
control measures that SbS already has in place; and
• to be comprehensive and effective.
the identification of risks will allow for the redirection and
focus of resources on high risks.
the SbS board Audit and Risk Sub-committee receives
a report twice a year on the management of the identified
‘highest risks’ facing SbS.
SBS Disaster Recovery Plan and
Business Continuity Plan
SbS has an operative Disaster Recovery Plan and a
business continuity Plan (bcP). the bcP was updated in
2012 to ensure that it reflected SbS’s current technology
and resources capability. A bcP maintenance plan is in
place to ensure that it is tested and updated periodically
to ensure full business recovery in the event of a full or
partial loss to the SbS premises.
SBS Fraud Control Plan
the SbS Fraud control Plan is based on a fraud risk
assessment (conducted using the methodology outlined
in the international Standard for Risk Management,
AS/NZS/iSO 31000). the Managing Director is satisfied
that SbS has in place appropriate fraud prevention,
detection, investigation, reporting and data collection
procedures and processes and that these comply with
the commonwealth Fraud control Guidelines.
External and internal audit
the audit of SbS’s financial statements is carried out by
the Australian National Audit Office (ANAO). the ANAO
gave an unqualified opinion on the 2011–12 financial
statements of SbS. During the year, SbS participated in a
benchmarking study conducted by comcover (an agency
of the Department of Finance and Deregulation) on Risk
Management Practices and achieved an excellent overall
performance rating.
the internal audit program was conducted in part by
Deloitte touche tohmatsu and ernst & Young on a
contract basis. the companies performed audits in
accordance with the audit plan approved by the SbS
Audit and Risk committee. in all cases, the results were
satisfactory and, where applicable, recommendations for
improvements to the control environment were brought
to management’s attention. the audits conducted in
2011–12 were: Special and Production Fund management
– content Management; transmission Services –
broadcast continuity; Royalty Management and Auditing;
Stv; Management Reporting; Security Management;
and contractor engagement and Management.
AnnuAl RepoRt 2011 – 2012 57