Corporate governance
The GWRDC's Board is committed to high standards of corporate governance in accordance with required statutes and principles. To ensure that the GWRDC operates according to the accountability provisions of the Commonwealth Authorities and Companies Act 1997 , a range of measures is relied upon by the Board including: systems for monitoring performance, policy reviews, internal and external audits, regular reviews of income and expenditure, a risk identification and management framework and a formal process undertaken with R&D providers to ensure outcome delivery.
The GWRDC regularly revises a Director's Manual, which highlights corporate responsibilities.
The Board regularly reviews the GWRDC's progress towards achieving corporate goals and makes assessments of success when preparing formal communications such as the Annual Report, Annual Operational Plan and Statement of Intent for the Minister.
Accounts and records of transactions are maintained by the GWRDC using generally accepted accounting principles and financial statements are prepared in accordance with the Finance Ministers Orders, Schedule 1 of the CAC Act and Australian Accounting Standards and Interpretations.
