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Risk management - Chapter 4 - Annual report 2019-20

Risk and audit at a glance 

 

The AGD Audit and Risk Management Committee (ARMC) provides independent advice and assistance to the Chief Executive on AGD’s risk, control and compliance framework, business ethics, policies and practices and its internal and external accountability responsibilities.  The ARMC met five times during 2019-20.

AGD currently has an independent, internal audit provider in Deloitte Touche Tohmatsu (Deloitte) that undertakes audit and risk management functions.  A total of five internal audit reviews were undertaken in 2019-20.

Fraud detected in the agency

In 2019-20, there was one instance of fraud.

CBS’ residential tenancies bond system was subject to a fraud incident in February 2020. Its systems were circumvented to obtain monies from third parties without authorisation. An internal review was conducted and all known security issues have been resolved and stricter security protocols and system changes implemented. Insurance arrangements have protected the loss of any monies held in the fund.

NB: Fraud reported includes actual and reasonably suspected incidents of fraud. 

Strategies implemented to control and prevent fraud

AGD is committed to the prevention, detection and reporting of fraud and corruption in connection with its activities. Any fraud is to be reported to the Chief Executive, and recorded on the AGD Fraud and Corruption Register.

As part of the audit program, the internal audit function performs reviews over the AGD system and control environments. 

Data for previous years is available from the Data SA website.

Public interest disclosure

Number of occasions on which public interest information has been disclosed to a responsible officer of the agency under the Public Interest Disclosure Act 2018: Nil

Data for previous years is available from Data SA website.

Note:  Disclosure of public interest information was previously reported under the Whistleblowers Protection Act 1993 and repealed by the Public Interest Disclosure Act 2018 on 1/7/2019.