Australian Veterinary Business Association Limited (“AVBA”)

ABN No. 71 130 063 366
Commencement date:  8th March 2008

AVBA Constitution

Click here to download the AVBA Constitution (430kb file size).

Core Values

Our core values	The standards by which we will be judged
Leadership	Effectiveness
Learning	Communication and commitment to lifelong learning
Integrity	Transparency, Honesty, Trust, Altruism

Corporate Governance

Underlying principle of governance are not just the documented policies and procedures of the organisation, it is the structures, systems, and understanding that enable the right decisions to be made and the right course to be set for the organisation.

The governance framework must be structured to enable:

1.       Organisational responsiveness

2.       Decisiveness by the board

3.       Ease of use

Guidelines

The Principles of Corporate Governance as outlined by ASX for public companies

1.       Lay solid foundations for management and oversight

2.       Structure the board to add value

3.       Promote ethical and responsible decision making

4.       Safeguard integrity in financial reporting

5.       Make timely and balanced disclosure

6.       Respect the rights of shareholders

7.       Recognise and manage risk

8.       Encourage enhanced performance

9.       Remunerate fairly and responsibly

10.   Recognise the legitimate interests of stakeholders

Application

Application of Principles to AVBA

1.       The roles and responsibilities of the various board positions are outlined in a formal statement of the Boards responsibilities.  The statement includes an explanation of the division between the responsibilities of the Board and management.

The responsibilities of the board include:

a)      Oversight of the organisation, its control and accountability systems

b)      Appointment and removal of the chief executive officer

c)       Ratifying the appointment and removal of the company secretary

d)      Input into and final approval of management’s development of corporate strategy and performance objectives

e)      Review and ratify a system of risk management, internal compliance and control, legal control and a code of conduct.

f)       Monitor management’s performance and implementation of strategy

g)      Approve and monitor progress of major items of expenditure

h)      Approve and monitor financial reporting.

2.       The board should be structured in such a way that it:

a)      Has a proper understanding of, and competence to deal with the current and emerging issues of the business

b)      Can effectively review and challenge the performance of management and exercise independence of judgement

c)       Be representative of the diversity of the profession it represents

d)      The role of the chairperson and chief executive officer should be separate.

3.       Standards of ethical behaviour required of directors and key members of the management team are documented as a formal code of conduct.

4.       The integrity of the organisations financial reporting will be ensured by:

a)      The organisation having in place a requirement for the chief executive officer and company secretary to state in writing to the board and members that the financial reports present a true and fair view, in all material aspects, of the organisations financial condition and operational results and are in accordance with the relevant accounting and taxation standards.

b)      Appointing an independent and competent auditor.

5.       The board will promote a culture of continuous disclosure and establish written policies and procedures to ensure all members shall receive timely access to all relevant information from the board including but not limited to:

a)      Annual financial reports

b)      Board reports

6.       The rights of members of the organisation must be respected, and the organisation must commit to:

a)      Effectively communicate with members using a variety of media.

b)      Give members ready access and participation in annual meetings.

7.       The board should establish a series of policies on risk oversight and management consistent with the risk profile of the organisation. These should include policies  to deal with:

a)      Financial and non financial matters

b)      A method to judge the effectiveness of the risk management system.

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Copyright 2008 Australian Veterinary Business Association Ltd

AVBA Governance