Status and Details

This page contains information about the status, approval and a summary of the changes from the previous version of the document. Please note that the Unit Head listed on this page is the current owner of this policy and may not reflect the University position/staff member who owned this policy at the time of publication.

Controlled and Associated Entities Governance Framework

Show Field Notes

Status	Historic	Indicates if this version of the document is in effect (Current), yet to come into effect (Future), or expired (Historic).
Effective Date	19th December 2019	This is the date on which this version of the document came into effect.
Review Date	19th December 2024	The next review of this document is scheduled to commence on this date.
Approval Authority	Board of Trustees	The noted authority approved this is version of the document.
Approval Date	19th December 2019	This is the date on which this version of the document was approved by the authorised authority.
Expiry Date	16th March 2021	This is the date on which this version expires. It may still apply, conditionally, after this date.
Unit Head	Jane Hutchison University Secretary	This is the officer generally responsible for day to day administrative matters.
Enquiries Contact	Shubha Devadasen Associate Director, Secretariat 45701347	General enquiries should be directed to the officer/area listed.

Summary of Changes from Previous Version

14 December 2020 – The following clauses were amended: clause (4) – add “in”; clause (11) add “an” and updated placeholder for ‘Delegations of Authority Policy’; clause (13)b. – change end of clause so that the words are consistent with clause 22; clause (14) – start sub-clauses with lower case, consistent with the rest of the document; clauses (18, 24c, 30a, 42 & 50a) – improve punctuation.

15 May 2020 – Typographical error in clause 14g. corrected from “properly” to “proper”.

19 December 2019 – fixed typographical error in clause 18 – “perso’s” to “person’s”.

Under the Western Sydney University Act, the Board of Trustees is responsible for the effective governance of University controlled entities. The boards of controlled entities are in turn responsible for effective governance, risk management and internal and external audit of their respective entities. The University also participates in associated entities. This Framework addresses the University’s oversight of the control and management of its controlled entities and how they report to the University. Under the Corporations Act 2001, which is the legislation that establishes University controlled entities, the boards of the University’s controlled entities have ultimate legal responsibility for risk oversight and management and, in some cases have established risk (or risk and audit) committees of their own. Accordingly, the Framework references this as a responsibility of the entity board, but also incorporates, as part of the entity’s reporting responsibilities, a requirement for controlled entities to provide annual assurance to the Board of Trustees that risks are being managed appropriately and to notify the University about any significant matters, including actual or potential exposure to significant financial or other risks. Key features of the Framework include: 1. an explicit requirement that controlled entities are to act in the University’s interests, and that their objectives and functions must align with those of the University; 2. a set of governance principles on how boards are expected to govern and manage controlled entities; 3. minimum requirements for controlled entity constitutions; 4. direct accountability of entity boards to the Board of Trustees through (as a minimum) annual reporting; 5. periodic reviews to, among other things, ensure controlled entities remain viable and are aligned with the University’s objectives and interests.

Clauses Amended:Policy: All