Seqwater is a statutory authority (the Queensland Bulk Water Supply Authority) established under the South East Queensland Water (Restructuring) Act 2007.
We have Board approved governance arrangements which reflect the governance requirements in relevant legislation and government guidelines.
The Board has approved the following documents which form part of our governance framework:
The Board and its Committees undertake regular evaluations of their performance.
Communication with Responsible Ministers
Pursuant to the South East Queensland Water (Restructuring) Act 2007, we have two responsible Ministers:
- Honourable Dr Anthony Lynham MP, Minister for Natural Resources, Mines and Energy
- Honourable Cameron Dick MP, Queensland Treasurer and Minister for Infrastructure and Planning.
We report on our performance to the responsible Ministers on a regular basis through quarterly reports and our annual report. The Chairperson regularly liaises with the responsible Ministers and provides ad hoc briefings as required.
We have corresponding relationships with the Department of Natural Resources, Mines and Energy, and Queensland Treasury. These relationships cover reporting, oversight and regulation of our business activities.
We also have regulatory relationships with Queensland Health (under the Water Fluoridation Act 2008 and relevant departments in regard to the delivery of major water projects.
Our system of internal controls consists of organisational structures, policies, procedures, processes, tasks and other factors designed to respond to operational, financial, compliance and any other risks.
The system is designed to meet the requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2009.
The Audit and Risk Committee assists the Board to assess, oversee and enhance our corporate governance, including our system of internal controls.
Our internal audit function regularly reviews and tests the effectiveness of the system and reports to the Audit and Risk Committee. An Internal Audit Plan is developed annually. The implementation and status of audit recommendations is reviewed quarterly.
We are committed to managing all risks at strategic and operational levels through the identification, assessment, treatment, monitoring and review of risks. We have implemented a risk management system based on AS/NZS ISO 31000: Risk Management Principles and Guidelines. We are currently developing a new Risk Management Policy and this will be available shortly.
Our compliance function is responsible for rolling out a compliance program that complies with AS 19600:2015 Compliance Programs.
The compliance function reports regularly to the Board, the Audit and Risk Committee, the Chief Executive Officer and the Executive Team.
Our Board and Management are committed to high standards of integrity, professionalism and accountability.
We have a Code of Conduct that outlines the way we work. The way we work is intended to help every one of us - employees, Board members, consultants and contractors live our values.
Regardless of where we work or the job we do, knowing, understanding and living our values and following The way we work is an essential part of who we are at Seqwater.
View our Board Code of Conduct Policy.
View our Public Interest Disclosures and Whistleblowers Policy and Procedure. Seqwater's independent and confidential whistleblower service is Stopline. To make a report:
We have a Trading in Securities Policy, which specifies the obligations regarding trading in securities of entities with which Seqwater interacts and the legal responsibilities that apply to Board members, senior managers and employees.