Governance
As GPRA grows we are adopting best practice in terms of corporate governance and organisational management.
This year the GPRA management team and Board have been working hard to create a robust Corporate Governance Charter that clearly defines the roles, responsibilities and authorities of the Board of Directors, both individually and collectively. Our new Charter also sets out the strategic direction, management and control of the organisation.
By instituting this Charter there are two primary benefits for GPRA.
The first is the development of a top-level policy document that can:
Assist the Company’s leadership to deliver good governance
Act as a point of reference
Act as an induction tool for new directors and managers.
The second key benefit of the Charter is that it affords the Board:
A forum to discuss some “not mentioned” issues that are often left unattended and could lead to conflict and poor corporate governance
A team development technique for Board members
A starting point for strategic planning.
GPRA’s Corporate Governance Charter is the foundation for the corporate planning process.
It provides an essential outline of the roles of the ultimate decision-makers in the organisation and details the decision-making process of the organisation. The Charter also outlines the expectations of the Board about critical policies such as risk management and the delegation of responsibility.
The following chart illustrates the relationship between the Corporate Governance Charter and other key planning levels within GPRA.
Whilst the Charter itself is still a work in progress, the structure has been created, and GPRA are in the process of finalising its various components. The diagram below provides an overview of the contents of the Corporate Governance Charter document.
With the institution of the Corporate Governance Charter, GPRA has created specific committees on the Board to look at different aspects of corporate governance, including Audit, Finance, Succession Planning, Director and Senior Management Evaluation and Remuneration, Risk Management and Strategic Planning. An overview of the meetings held each financial year is provided in the annual report.
