Northern Star is fully aligned with all 35 Recommendations of the ASX Corporate Governance Council Principles and Recommendations.
Northern Star is fully aligned with all 35 Recommendations of the ASX Corporate Governance Council Principles and Recommendations. The Board supports the view that its Directors having diversity in gender, age, skillset, background and tenure helps ensure more perspectives contribute to decision-making.
For full details of the Company’s corporate governance practices and Board skill sets, see our FY22 Corporate Governance Statement released on the ASX and available on our Corporate Governance page.
Northern Star’s Corporate Governance Framework
Northern Star has a mature risk management capability and management system. Northern Star prioritises hazard and risk assessments, mitigation and management of risks across every aspect of our operations. ESG risks and control measures are embedded in the corporate risk register, and operational risk registers.
Northern Star’s operations are guided by Northern Star’s Risk Management Policy and Risk Management Standard, which apply to the management of all types of risks within the business, document our internal control systems and provide the processes for risk assessment and management. The Company’s Risk Management Standard outlines accountabilities, processes for risk reporting and the control mechanisms designed to ensure that our workers adequately identity, assess and manage risks at all our operations.
In FY22, Northern Star took steps to enhance the Company’s risk management and assurance capability and maturity with the appointment of a Group Manager – Audit and Risk responsible for designing and delivering the Company’s annual Internal Audit Plan, improving the Company’s approach to risk management and leading the operational and corporate risk reviews.
Reporting to the Chair of the Audit and Risk Committee and to the Chief Financial Officer, the Group Manager – Audit and Risk is focused on supporting the Board in meeting its corporate governance responsibilities and applying a risk-based approach to providing assurance over business areas and processes relevant to people, financial, operations, growth, ESG and technology.
Northern Star actively promotes a corporate culture committed to ethical business practices, compliance with the law and exercising integrity in decision making by our people and in our operations through our STARR Core Values, Code of Conduct and other key core corporate governance policieson our Corporate Governance page. All inductions completed by our workers cover these key documents. Northern Star's policy commitments for responsible business conduct apply to all of the Company's activities and business relationships equally.
Employees and other stakeholders who suspect or see unethical, illegal or improper behaviour within the Company are encouraged to report and are protected under our Whistleblower Policy which provides for a confidential, anonymous and retaliation-free process for people to report their concerns, free of fears of retaliation, with confidence the Board will be made aware of material breaches of the Code of Conduct. Whistleblower reports are standing items for discussion on all Audit & Risk Committee and Board agendas.
Northern Star understands that stakeholder trust and investor confidence is built and maintained on foundations of transparent disclosure. We prioritise being clear and unambiguous about our corporate structure, operations and performance, and governance practices in our disclosure practices for the benefit of, and maintaining a genuine dialogue with, our shareholders and stakeholders.
Our public disclosures are guided by Northern Star’s Continuous Disclosure Policy and Shareholder Communication Policy. Northern Star regularly reviews and enhances its periodic disclosures to ensure openness, fairness and accountability in all
our external communications. As part of our commitment to transparency, we regularly pursue meetings with proxy advisors and prior to the Annual General Meeting each year we invite shareholders to ask questions of our Board and Auditor either in advance or at the meeting (whether in person or virtually using hybrid meeting technology).
As part of our commitment to transparency, under the Australian Voluntary Tax Transparency Code, Northern Star continues to voluntarily publish the Company’s annual Tax Corporate Governance Statements on our Corporate Governance page.