Governance Statement
Australia Post maintains a comprehensive system of corporate governance practices designed to provide appropriate levels of disclosure and accountability. You can view a detailed Corporate Governance Statement in our Annual Report.
Governance Framework
As a Government Business Enterprise (GBE), we are subject to the requirements of:
More on our governance framework
Shareholder Ministers
Within the Australian Government, the Minister for Broadband, Communications and the Digital Economy has portfolio responsibility for Australia Post. Under a dual shareholder model, overall responsibility is shared with the Minister for Finance and Deregulation.
The Board
The Board of Australia Post comprises up to 9 directors. With the exception of the Managing Director and CEO, all serve in a non-executive capacity.
Non-executive directors are nominated by the portfolio minister and appointed by the Governor-General for a period of up to 5 years. Reappointment is permissible. In practice, terms of appointment are generally 3 years.
The Board is accountable for Australia Post's overall performance. It sets our key objectives and strategies through a rolling 4-year Corporate Plan, which is submitted annually to shareholder ministers. Progress against the Plan is reported quarterly. Ministers and their departments are also kept informed on a regular basis about developments of significance.
Profiles of our Board members can be found in our Annual Report.
Three permanent committees-the Audit and Risk Committee, the Human Resources Committee and the Nominations and Remuneration Committee-assist the Board in the discharge of its responsibilities:
Audit and Risk Committee
The committee focuses in particular on the areas of financial reporting, risk management and internal controls. Among other things, it reviews:
- the annual financial statements before their consideration and adoption by the Board
- the clarity and quality of our financial policies, practices and disclosures
- internal and external auditor plans, reports and performance
- significant existing and emerging risks and mitigation activities
- the adequacy and effectiveness of internal controls
- compliance with laws and regulations
More on our Audit & Risk Committee Charter 2011 (76kb)
Human Resources Committee
The Human Resources Committee provides a governance framework for the consideration of strategic matters relating to our people and culture. Matters that the committee particularly addresses and makes recommendations to the Board about, as appropriate, are:
- recruitment, selection and succession planning
- remuneration
- occupational health and safety
- culture and ethics
- learning and development
- terms and conditions of employment
- organisational structure
More on our Human Resources Committee Charter (15kb)
Nomination and Remuneration Committee
The committee provides shareholder ministers with recommendations on Board composition and membership, and performance and succession management for the Managing Director and CEO. Specifically, the role of the committee is to:
- provide a recommendation to shareholder ministers on Board composition and membership
- develop an annual Board plan
- undertake a Board effectiveness review, on a triennial basis
- inform shareholder ministers prior to any Board / Managing Director and CEO vacancies
- review and undertake recommendation to the Board in relation to Managing Director and CEO remuneration
- establish and maintain succession arrangements for the Managing Director and CEO
- consider the Managing Director and CEO's recommendations around recruitment, performance, remuneration and succession planning for executive general managers
More on our Nomination and Remuneration Committee Charter (15kb)
At Australia Post, everything we do can have social, environmental and economic impacts. As such, it is important that our people represent Australia Post in an ethical way by conducting business with integrity, honesty, fairness and in compliance with all relevant laws, regulations, codes and corporate policies and procedure
Our Ethics (1,431kb) details the minimum ethical standards of expected behaviour that help guide us through possible ethical dilemmas and for dealing with customers, suppliers, the Corporation and each other.
