Corporate governance
Corporate governance refers to the way Powerlink conducts its business. As a Government Owned Corporation, we’re committed to governance policies and practices that provide appropriate accountability, and control systems which encourage and enhance sustainable business performance.
The Powerlink Board is responsible for our overall corporate governance—including the governance of our subsidiary companies—and sets our strategic direction, policies and operational framework.
The Board and management work together to establish and maintain a legal and ethical environment and framework that ensures accountability throughout Powerlink that is in the best interests of shareholders and the corporation.
Our governance framework includes:
- A Board Charter which sets out the principles for the operation of the Board and describes the functions and responsibilities of the Board, together with a Board Code of Conduct which defines the expected standard of behaviour of the Board and provides guidance to assist Directors in carrying out their duties and responsibilities. Read more on the Board Charter and Board Code of Conduct.
- Board Committees to assist the Board. Currently there are two Board Committees: the Audit and Compliance Committee, and the Human Resources and Remuneration Committee. These committees have documented mandates that are reviewed on a regular basis. View the Audit and Compliance Committee Charter (PDF 33KB), or the Human Resources and Remuneration Committee Charter (PDF 52KB).
- Disclosure requirements regarding disclosure and reporting obligations, including those to shareholding Ministers. The Powerlink Annual Report and this website are both examples of ways we disclose information.
- Processes for shareholder communication including quarterly progress reports and the Annual Report.
- Risk management and internal control. The Board determines Powerlink’s risk profile and is responsible for overseeing and approving our risk management policies, internal compliance and controls.
- A process for performance evaluation of the Board and its Committees.
More information regarding corporate governance is contained in the Annual Report.
See also: