Corporate Governance

Element

 Description

 Enabling legislation

The Primary Industries and Energy Research and Development Act 1989 (PIERD Act) sets out the legislative framework and rules for the establishment and operation of the GRDC.

Governance legislation

As well as its responsibilities under the PIERD Act, the corporation has accountability and reporting obligations set out in the Commonwealth Authorities and Companies Act 1997, the Commonwealth Authorities and Companies (Report of Operations) Orders 2005 and annual Commonwealth Authorities and Companies Orders (Financial Statements)

Policies and procedures

The GRDC Operating Manual, which is available to the Board and all staff members, describes the corporation’s:
· policies and procedures
· roles and responsibilities (including those of the Board and Board committees)
· Code of Business Conduct and Ethical Behaviour
· approval authority schedule, which includes delegations
general guidelines

Quality management system

The GRDC’s Quality Management System has ISO 9001:2000 quality assurance accreditation from SGS International Certification Services Pty Ltd. The GRDC applies systematic processes designed to demonstrate clear leadership on quality and to promote quality assurance to stakeholders and other people or organisations with whom the GRDC is involved

Environmental management

The GRDC is required to report annually on its performance in relation to ecologically sustainable development (ESD) and other environmental matters outlined in the Environment Protection and Biodiversity Conservation Act 1999.

At the strategic level, Prosperity through Innovation articulates the GRDC’s vision for an Australian grains industry that is both profitable and environmentally sustainable. The principles of ecologically sustainable development have been incorporated into the decision-making systems and processes of the GRDC, as required under the EPBC Act. The corporation has in place paper‑recycling arrangements and, where operationally viable, purchases energy‑efficient equipment. Energy‑efficient practices are encouraged within the corporation’s premises, to reduce energy consumption wherever possible. 

Financial control

The GRDC maintains accounts and records of transactions and affairs in accordance with accepted accounting principles generally applied in commercial practice and with legislative requirements

Audit processes

Independent internal and external audits are applied to financial, risk, fraud, quality and R&D management

Fraud and risk management

As part of the quality management system, the GRDC’s fraud and risk management framework includes processes for project, program and portfolio level risk management, general compliance and operational risk management, financial risk management, and prudential guidelines for business ventures.

The GRDC prepares a six-monthly Business Environment Report to the Board. This report is used to update the GRDC’s situation analysis and identify developing risks. The Executive Management Team, in consultation with managers, updates the Business Risk Assessment Report and the Fraud Control Action Plan each month. The Board reviews these documents at each meeting.

Freedom of Information and Privacy

The GRDC is required to comply with the Freedom of Information Act 1982 (FOI Act) and the Privacy Act 1988.

Enquiries about access to documents and other matters relating to freedom of information should be directed during normal working hours to:

Freedom of Information Officer
Grains Research and Development Corporation
PO Box 5367
KINGSTON ACT 2604

Telephone: 02 6272 5525
Facsimile: 02 6271 6430

The GRDC’s annual Personal Information Digest entry as at 30 June 2007 has been lodged with the Privacy Commissioner.

The GRDC monitors and measures performance to continually improve its effectiveness and efficiency. The Board, Management and all staff are set performance objectives each year. Performance against these objectives is reviewed regularly.