Management and accountability
Risk management
During the year PSR operated under its Risk Management Plan 2006–07, developed with the assistance of Cogent Business Solutions in 2006. The plan covered activities in the planning, monitoring and control of actions that would address identified risks to PSR’s objectives.
The Management Committee reviews the Risk Management Plan quarterly to ensure that risk management is responsive to the organisation’s changing needs.
PSR’s Fraud Control Plan 2006–08 continued to operate, and new Business Continuity and Security Plans were prepared.
PSR did not lodge any insurance claims during 2006–07 and is confident that all significant risks are being managed effectively.