The ALRC’s risk management plan was reviewed in August 2010 as part of the Fraud Control review. There were no new risks identified. The Audit Committee agreed that the ALRC had adequate controls in place, with all relevant risks being classified as ‘low’ or ‘negligible’.
The ALRC has continued to assess and manage its risks through:
- appropriate levels of insurance, including cover for public liability, directors’ liability, and property loss or damage, with nature and levels of cover reviewed annually;
- a positive approach to occupational health and safety, based on preventative strategies and early response to injury;
- provision of training to staff to ensure that they understand their responsibilities and have the skills necessary to fulfill their responsibilities;
- transparent reporting of financial management and operational matters, both internally and externally; and
- administrative policies aimed at preventing fraud and managing risk.