Effective Board oversight of investment policy with regular meetings Investment management expertise Transaction review Use of performance indicators Regular position monitoring, review and reporting Wage increases/costs increase Robust budgeting system Effective cost control policies and procedures Human resource policies and procedures Quickly adaptable and responsive pricing process Fraud Segregation of duties Delegations process Internal and external audit plan Management control Fraud control plan and whistle-blowing procedures Investigation and termination policy (human resource) Government legislation/direction affects financial position Maintain close relationships with government Be proactive/innovative for early response Economic climate Robust budgeting system Effective monitoring system Investment policy and procedure Diversified investment strategy Regular market reviews and reports Capital guaranteed investments Investment committee oversight and approvals Compliance Financial Management Act 1994 Audit Act 1994 Financial Management Regulations 2004 Standards for Disability Services in Victoria 2007 Pricing regulations National Competition Policy DHS Funding and Service Agreement Fundraising Appeals Act 1998 Resources developed by NDS as part of the Strategic Business and Financial Planning Project
Effective Board oversight of investment policy with regular meetings Investment management expertise Transaction review Use of performance indicators Regular position monitoring, review and reporting Wage increases/costs increase Robust budgeting system Effective cost control policies and procedures Human resource policies and procedures Quickly adaptable and responsive pricing process Fraud Segregation of duties Delegations process Internal and external audit plan Management control Fraud control plan and whistle-blowing procedures Investigation and termination policy (human resource) Government legislation/direction affects financial position Maintain close relationships with government Be proactive/innovative for early response Economic climate Robust budgeting system Effective monitoring system Investment policy and procedure Diversified investment strategy Regular market reviews and reports Capital guaranteed investments Investment committee oversight and approvals Compliance Financial Management Act 1994 Audit Act 1994 Financial Management Regulations 2004 Standards for Disability Services in Victoria 2007 Pricing regulations National Competition Policy DHS Funding and Service Agreement Fundraising Appeals Act 1998 Resources developed by NDS as part of the Strategic Business and Financial Planning Project
Risk_management_controls_accessible_May17.docx