Risk oversight and management
ASD’s Executive Committee is the primary advisory committee to support the Director-General in the oversight of all of ASD functions. The committee defines operational and corporate risk tolerances, and oversees effective risk management across the agency. The Director-General is supported in these functions by ASD’s governance frameworks and committees. Risk is managed across four key domains. These domains are:
- security, integrity and reputation
- enterprise performance
- people, finance, and workplace health and safety
- data technology and infrastructure.
The ASD Audit and Risk Committee (ASDARC) was established in 2018 to comply with section 45 of the Public Governance, Performance and Accountability Act 2013. The ASDARC provides independent assurance of ASD’s risk management framework, internal governance, and performance. It provides independent advice to the Director-General and, where appropriate, makes recommendations to the Director-General with respect to financial reporting, ASD’s system of oversight and management, ASD’s system of internal control, and internal and external audit reports.
ASD will continue to review its governance frameworks and committees in support of the Director-General into the 2020–21 performance year and beyond, seeking opportunities to enhance and streamline existing governance framework and committee processes.