compliance and risk management

Continually seeking to improve standards for compliance and risk management, ENERGEX's compliance and risk management structure includes Board and Executive committees.

The Board and Executive Management recognise the importance of compliance and risk management through the implementation of an effective legal compliance system which is in accordance with the Australian Standard for Compliance Programs - AS 3806.

corporate governance

The Queensland Government Owned Corporations Act requires the ENERGEX Boards to:

• Be responsible for commercial policy and management.
• Ensure the economic entity achieves and carries out objectives set out in the Statement of Corporate Intent.
• Be accountable to its shareholders for performance.
• Ensure that functions are performed in a proper, effective and efficient way.

The Directors and Management of ENERGEX Limited and its subsidiaries are committed to the highest possible standards of corporate governance. Mechanisms and processes are in place to give assurance that the economic entity undertakes its duties and responsibilities in:

• accordance with the law
• the best interests of its shareholders
• a legal and ethical environment which meets contemporary standards
• a manner that is responsible to all stakeholders.

audit and compliance committee

The Audit and Compliance Committee assists the ENERGEX Limited Board to discharge its responsibility under the Government Owned Corporations Act, Corporations Law, Electricity Act and other relevant legislation.

The ENERGEX Limited Board and the Chief Executive Officer are committed to continuous improvement in a 'culture of compliance' within ENERGEX. The Committee has been established to provide assurance to the Board that the Corporation is properly meeting its obligations in relation to:

• financial integrity
• legal compliance
• business risk management

risk management and compliance committee

The Risk Management and Compliance Committee assists the Board of Directors of ENERGEX Limited and the Chief Executive Officer to monitor the effectiveness and efficiency of the Corporation's systems for management of risk and legal and regulatory compliance. Objectives:

• provide assurance that the corporate systems for management of risk and legal and regulatory compliance are operating effectively and efficiently
• provide advice to the Chief Executive Officer on organisational changes to effect strategic and tactical improvements to the systems which manage risk, and legal and regulatory compliance
• monitor adherence to the standards for risk management and the organisation's risk appetite as prescribed by the ENERGEX Ltd Board and Chief Executive Officer