NBN Co Limited (NBN Co) is committed to implementing a robust risk management framework to allow for the proactive identification, assessment and management of material risks.
NBN Co is required to address risk management in the context of its status as a Government Business Enterprise (GBE). The Commonwealth Authorities and Companies Act 1997 and the Commonwealth Government Business Enterprise Governance and Oversight Guidelines (October 2011) prescribe requirements NBN Co must meet to fulfil its obligations to its Shareholder Ministers to enable them to exercise their accountability to Parliament and to the general public.
As a GBE, NBN Co is responsible for providing a Corporate Plan to its responsible Minister (the Minister for Communications), of which risk identification, measurement and risk management strategies are key elements.
NBN Co’s Risk Management Policy and Framework communicates objectives, approach and responsibilities with regard to risk management throughout the organisation. It also communicates NBN Co’s commitment to support the development of a sound risk management culture.