51 / 116
Internal audit
In September 2014 ARTC entered into a five
year contract with KPMG for the provision
of internal audit services. ARTC Internal
Audit maintains a three year Internal Audit
Plan which is reviewed and updated annually.
KPMG assisted Internal Audit to review and
update the FY16 - FY18 Non-Safety Internal
Audit Plan (the Plan).
In May 2016 the Audit and Compliance
Committee approved the revised FY16 -
FY18 Plan. A progress report which
provides an update on Internal Audit’s
progress on delivering the annual Plan is
presented to each Audit and Compliance
Committee meeting.
External Audit
Under section 98 of the PGPA Act, the
Auditor-General is responsible for auditing
the financial statements. In addition ARTC’s
Annual Report is tabled in Parliament and
financial accounts lodged with ASIC.
ANAO has contracted with Ernst &Young
to audit the ARTC on behalf of the Auditor-
General. The Audit and Compliance
Committee invite the external auditors to
each Committee meeting and the papers for
each meeting are provided to both ANAO and
Ernst &Young. The external auditors are also
invited to ARTC’s Annual General Meeting.
Our Shareholder
The Commonwealth of Australia holds all
the shares in the Group. The responsible
Shareholder Ministers are the Senator
Mathias Cormann, Minister for Finance
and Minister Darren Chester, Minister for
Infrastructure and Regional Development.
ARTC recognises, upholds and facilitates the
effective exercise of the rights of the single
shareholder, the Commonwealth of Australia.
In this regard, the company is subject to the
PGPA legislation and the Commonwealth
Government Business Enterprise Governance
and Oversight Guidelines in addition to the
Corporations Act. ARTC has also negotiated
a Commercial Freedoms Framework with the
Shareholder which agrees ARTC’s mandate.
Shareholder communication
ARTC complies with the Commonwealth
Government Business Enterprise
Governance and Oversight Guidelines,
including the development of an annual
Corporate Plan, the publication of an annual
Statement of Corporate Intent and regular
Shareholder liaison, including formal quarterly
Shareholder reports and meetings.
GOVERNANCE POLICIES
Code of Conduct
ARTC recognises the importance of integrity
and ethical behaviour. This commitment is
demonstrated in the Company’s Code of
Conduct which sets out the principles of
conduct and behaviour ARTC requires
from its employees.
Public Interest Disclosure
Procedure
In accordance with the Public Interest
Disclosure Act, ARTC has a framework
for the disclosure of suspected wrongdoing
and for the protection of whistle blowers.
The framework applies to disclosures made
by ARTC staff.
Equal Opportunity
The ARTC Corporate Plan recognises the
importance of providing ARTC employees
with a work environment that is both
engaging and fulfilling.
ARTC’s Diversity Policy outlines the
Company’s commitment to value diversity,
treating all job applicants and employees
in the same way, regardless of their sex,
sexual orientation, age, race, ethnic origin
or disability.
49