The basic responsibility of the Board is to act in the best interests of the corporation and its shareholders. This includes:
- Setting the corporation’s values and standards of conduct and ensuring that these are adhered to.
- Providing leadership for the corporation within a framework of prudent and effective controls.
- Setting the corporation’s direction, strategies and objectives.
- Monitoring management’s performance and implementation of strategy.
- Ensuring an effective system of corporate governance exists.
Board Code of Conduct
The Board Code of Conduct defines the expected standard of behaviour of Directors. Under the Code, a Director:
- Must act honestly and with integrity.
- Must not allow personal interests, or the interests of any associated person, to conflict with the interests of Powerlink.
- Is required to protect and hold confidential all non-public information.
- Must act for a proper purpose and in the best interest of Powerlink as a whole.
- Must deal fairly and impartially with the corporation’s employees, customers, suppliers, competitors and other key stakeholders.
- Must not make improper use of information acquired as a Director.
- Should not engage in conduct likely to bring discredit or damage the reputation of Powerlink.
- Must comply with the law and with the principles of this Code.
Audit, Risk and Compliance Committee
This committee assesses and reports on issues relating to audit effectiveness. The Committee endorses Powerlink's internal audit program and list management profile.
The Committee endorses Powerlink's internal audit program and risk management profile and provides a link between our auditors (internal and external) and the Board.
The Committee meets with, and receives reports from both the internal and external auditors. The Committee also assists the Board in the oversight of financial integrity and legal compliance.
People, Culture and Remuneration Committee
Established to assist the Board in fulfilling its employer responsibilities, providing governance of key organisational people and culture matters, and developing 'fit for purpose' organisational policies that support Powerlink's strategic direction and the development of an appropriate organisational culture.
This is to be achieved by reviewing and reporting to the Board on policy and its application relating to work, health and safety, organisational design, employee remuneration and performance and employee relations.
The Powerlink Annual Report and this website are examples of ways we disclose information.
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.
Shareholder communication including quarterly progress reports and the Annual Report.
Performance evaluation of the Board and its Committees.