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Corporate governance framework
Board of Directors
SRA’s Board of Directors is responsible for charting the direction, policies, strategies and financial objectives of the Company. The Board serves the interests of SRA and its members, as well as other stakeholders including employees, investors, State and Federal Government and the regional community. SRA’s Board operates in accordance with its charter and has reserved certain powers for itself. The Board has established four standing Committees to assist the Board with effectively discharging its responsibilities: Audit and Risk Committee
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People, Performance & Remuneration Committee Research Funding Panel Director Selection Committee. The Board has delegated the day-to-day management of SRA, and the implementation of approved business plans and corporate strategies, to the CEO, who in turn may further delegate to senior management. SRA’s governance framework: plays an integral role in helping the business deliver on its strategy provides the structure through which strategy and business objectives are set, performance is monitored, and risks are managed provides guidance on the standards of behaviour that SRA expects of people aligns the flow of information and accountability from our people, through the management levels, to the Board and ultimately our members and key stakeholders.
Assurance and oversight through reporting Stakeholders
Board
Independent Assurance
Internal Audit External Auditor Audit and Risk
People, Performance & Remuneration
Research Funding Panel
Board Committees Delegation
Accountability
CEO
Director Selection Committee
Executive Team
Accountability Delegation
Our People
Board Composition
Under SRA’s Board Charter, the composition of the Board is determined having regard to criteria on agreed skills and experience. The Board is committed to ensuring that it comprises individuals with an appropriate range of skills, experience, expertise and diversity to deal with current and emerging issues. The Board comprises seven directors. Details of their qualifications and experience is provided under the Board of Directors section of this Annual Report.
Corporate Governance Statement
Our corporate governance framework and practices have complied with the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations (4th Edition) (ASX Recommendations) throughout the 2021/22 financial year. The Board continually reviews SRA’s governance policies and practices to ensure that they remain appropriate in light of corporate governance developments and changes in expectations, including as reflected in the revised 4th Edition of the ASX Recommendations.
SRA’s 2022 Corporate Governance Statement provides detailed information on our corporate governance practices for the year ended 30 June 2022. It can be viewed at https://sugarresearch.com.au/sugar_ files/2022/10/Corporate-Governance-statement-2021-22F-Digital.pdf
Scan the QR code to view SRA's 2021/22 Corporate Governance Statement SRA Policies and Practices
As part of our commitment to operating to the highest standards of ethical behaviour, we have a range of policies and practices that set ethical standards for directors, employees, contractors and third parties. These policies describe core principles designed to ensure ethical conduct is maintained in the interests of members and other stakeholders.
The SRA Code of Conduct is our code for business conduct – it contains principles and standards of conduct which are based on SRA’s values and represents our commitment to uphold ethical business practices and meet applicable legal requirements. The Code of Conduct applies to all directors and officers of the Company. The Code of Conduct is supported by a number of governance policies to guide how SRA does business and outline expected standards of behaviour, including: Board Governance Policy – sets out the mechanisms to ensure the efficient and effective operation of the SRA
Board. It aligns with, and augments, the Corporations Act and SRA Constitutional provisions in relation to the SRA
Board.
Diversity Policy – provides the framework by which SRA actively encourages and facilitates diversity across the organisation. SRA is an equal opportunity employer. People & Culture Policy – provides a framework for the development of best practice Organisational
Development and Human Resources policies and procedures that facilitate the alignment of values, people and performance in our achievement of quality outcomes for the sugar industry. Compliance Policy – a Compliance Framework is in place to ensure that the SRA Board, CEO and SRA staff can make informed decisions under a robust framework that is aligned to the broader SRA Risk Management
Framework and corporate governance structure. Risk Management Policy and Risk Management Plan – provides guidance and direction on the management of risk in SRA and states SRA’s commitment to the effective management of risk. Whistleblower Policy – encourages SRA directors, employees and contractors to confidentially report unethical or illegal conduct and raise concerns regarding actual or suspected contraventions of ethical or legal standards, without fear of victimisation, reprisal or harassment.
