2022-07-12 - S&O Agenda - Item 3 - Attachment 1 - Governance Framework Report

  Effective asset management is achieved through:
   • Good governance,
   • Asset planning,
   • Decision-making, and
   • Capital planning.

  As such, Council has adopted several Asset Management Plans that provide
  strategic direction in the management of Council’s assets.


  RISK MANAGEMENT
  The management of risk is recognised as a fundamental component of our
  governance model. Council’s Enterprise Risk Management Policy aligns to our
  organisational objectives and strategies, processes, people, technology and
  knowledge with the purpose of evaluating and managing risks and opportunities
  effectively. Our risk management approach is one which complements and
  actively encourages innovation by aligning risk reviews with corporate objectives
  and emphasising a focus on identifying improvement opportunities.


  ENTERPRISE RISK & OPPORTUNITY MANAGEMENT
  Council has an Enterprise Risk Management Policy to assist in the identification,
  assessment and prioritisation of risks and opportunities identified across
  Council. Council’s Policy and supporting documents align to the international
  standard for risk management – AS/NZS ISO 31000:2018.

  Risk can be broadly defined as any issue that may impact upon desired
  objectives. The management of risk is not the responsibility of a single branch or
  a stand-alone function within Council but a shared responsibility across the
  organisation and is embedded in Council’s core business processes and
  practices.

  Council’s Enterprise Risk & Opportunity Management Framework (currently
  under development) is an organisation-wide commitment to a consistent
  approach to managing risks and opportunities beyond traditional silos or
  barriers. The Framework is integral in ensuring that Council’s strategies,
  processes, people, technology and knowledge align with the purpose of
  evaluating and managing risks and opportunities.

  AUDIT & RISK COMMITTEE
  Council’s commitment to a risk management program at a policy and strategy
  level extends through to the establishment of an Audit and Risk Committee, in
  accordance with the Local Government Act 2009. As such, Council conducts
  Audit and Risk Committee meetings to promote good corporate governance
  through the provision of independent advice and counsel on audit and risk
  management issues covering a wide range of Council operations and projects.

NOOSA SHIRE COUNCIL                                                            PAGE 36