Management and accountability
Risk management
Cogent Business Solutions helped PSR develop an updated risk management plan for 2006 and 2007. The plan covered the activities in the planning, monitoring and control of actions that would address the threats and problems identified as part of the analysis of risk processes and the likelihood of PSR as an organisation achieving its stated objectives.
The Management Committee reviews the Risk Management Plan quarterly to ensure that risk management is responsive to the changing needs of the organisation.
Using the initial risks identifying in the risk assessment, Ascent helped PSR develop its 2006‑08 Fraud Control Plan. PSR has in place appropriate fraud control mechanisms that meet the agency's needs and comply with Fraud Control Guidelines. At 30 June 2006, PSR was in the process of putting the final touches to its Business Continuity Plan and Security Plan.
PSR did not lodge any insurance claims during 2005-06 and is confident that all significant risks are being managed effectively.