Office of the Public Sector Standards Commissioner

Good Governance

Nine Governance Principles

Principle 9: Risk management

The organisation identifies and manages its risks.

Each organisation has a distinct risk profile. Identifying its particular risk exposure and developing and implementing risk prevention and remediation plans is critical to ensure the organisation can operate effectively and efficiently to achieve its goals.

Standards (what is required?):

9.1

Policies exist for the governance and management of material risks (e.g. reputational, financial or physical, including occupational safety and health)

Mandatory requirements | Guidelines | Good practice examples

Operations (how do you achieve it?):

9.2

The organisation's risk exposure is evaluated and remediation plans are implemented.

Mandatory requirements | Guidelines | Good practice examples

9.3

Preventive measures for key risk categories are in place.

Mandatory requirements | Guidelines | Good practice examples

Monitoring (how do you know you are meeting the standards?):

9.4

Procedures are in place to monitor incidents from the identified risk categories (data analysis).

Mandatory requirements | Guidelines | Good practice examples

Reporting (how do you let the right people know?):

 

The organisation's annual report identifies compliance levels against the relevant standards.

Annual compliance reporting addresses compliance with WA's requirements for good governance.

All material matters are reported to the relevant oversight bodies.

Mandatory requirements | Guidelines | Good practice examples

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Key resources


Disclaimer

OPSSC is providing the Good Governance Guide and the related Maturity Model free of charge to the WA public sector and the wider community. OPSSC, on behalf of the State of Western Australia, retains all intellectual property rights. OPSSC must be properly acknowledged whenever reference is made to the Good Governance Guide, the Maturity Model, other products of the Good Governance Guide or parts thereof. None of these products or parts thereof may be used for the purpose of generating profit for yourself, your organization or a third party.

Page last updated: September 25 2009