RDDT has adopted corporate governance practices to achieve compliance with the ASX Corporate Governance Council best practice principles and recommendation guidelines.
RDDT's Directors have an overriding objective of increasing shareholder value while ensuring the Company is properly managed.
The Board of Directors is responsible for:
- Approving corporate strategies, the annual budget and financial plan;
- Monitoring financial performance including approval of the annual and half-year financial results and liaising with the Company's auditors;
- Appointing the CEO;
- Monitoring managerial performance in the implementation and achievement of strategic and business objectives;
- Approving key management recommendations such as capital expenditure, acquisitions, divestments, restructuring and funding;
- Establishing policies on risk oversight and management with appropriate mechanisms in place;
- Approving the Company's major HR policies;
- Determining that satisfactory arrangements are in place for auditing the Company's financial affairs;
- Reporting to shareholder/s and regulatory authorities.
The Directors are committed to the principles of best practice in corporate governance and to being accountable to shareholders and other stakeholders.
The Board contains a majority of directors appointed by RMIT University, and independent directors.
Code of Conduct
RDDT's Code of Conduct provides guidance on how the Company conducts business. All employees, including directors and officers, are expected to comply with the Code.
All employees are expected to:
- Conduct themselves with honesty and integrity;
- Promote ethical and responsible decision making;
- Promote a safe working environment;
- Respect and comply with the law;
- Avoid situations which result in a conflict of interest;
- Be responsible and accountable for their actions; and
- Use the Company's property responsibly.
RDDT has established detailed policies and procedures that underpin the Code of Conduct and updates these from time to time to reflect best practice for the Company.
Any employee who is aware of, or suspects, any breach of law should alert a member of the Company's senior executive team. The reporting employee's identity is kept confidential in so far as the law permits and RDDT will act in good faith and fairly towards that employee.
Employees are expected to use common sense and best judgment when conducting business and seek guidance if the best course of action is not clear.
Audit and Risk Committee
RDDT's Audit and Risk Committee reviews Company processes such as financial reporting, internal control systems, financial risk management, audits, the overall risk management program, compliance with laws and regulations and the Company's Code of Conduct. The Committee reviews the Company's annual accounts and interim reports prior to their submission for approval by the RDDT Board.
The Committee regularly updates the Board about its activities and ensures the Board is aware of matters which may significantly impact the financial condition or affairs of the business.
RDDT Health and Safety
RDDT recognise that health and safety is vital to the combined well-being of our staff and visitors and the success of our business. Therefore we seek to develop a cooperative, consultative relationship with all our employees to achieve the highest practicable standards of occupational health and safety for staff, contractors and visitors.
As RDDT resides on the campus of RMIT University, RDDT adheres to all formally approved occupational health and safety policies, and procedures of RMIT University.
Everyone at RDDT takes responsibility for Occupational Health and Safety and it is an integral part of company culture.