Risk Management

Risk Management

Risk Management is integral to the successful achievement of Horizon Power’s goals and a key requirement of effective corporate governance.

Horizon Power has developed a comprehensive Risk Management Policy to ensure that risk management is a living and dynamic process that is embedded within the business' culture and management in a structured and systematic manner to assist managers make informed decisions and achieve successful business outcomes.

The Risk Assurance and Audit Charter commits the Risk Assurance and Audit team to provide independent, objective assurance and consulting services that add value and improve Horizon Power’s operations, regulatory obligations and stakeholders’ aims.

Audit and Risk Management Committee

The Audit and Risk Management Committee (ARMC) is a Committee of the Board of Directors of Horizon Power.  The role of the ARMC is to assist the Board in discharging its responsibility of oversight and corporate governance of the organisation.  In so doing, the ARMC is responsible to the Board.

The ARMC provides reasonable assurance to the Board that Horizon Power’s core business goals and objectives are being achieved in an efficient and economical manner, within an appropriate framework of internal control and risk management. Prompt and constructive reporting is undertaken, particularly when issues are identified that could pose a material risk to the organisation.

The ARMC Terms of Reference provide a further explanation of the role of this Committee.