Corporate Governance
AVID Property Group is committed to the highest standards of corporate governance and ethical conduct, recognising it as an essential component of our responsibility to investors.
Staff participation in Urban Development Institute of Australia, the Urban Land Institute and Property Council of Australia committees, Association of Corporate Counsel, Australia; The Law Society of NSW, as well as think tanks, government and academic research programmes and mentoring.
AVID is committed to ensuring that its systems, procedures and practices reflect a high standard of corporate governance. The Directors believe that AVID’s corporate governance framework is critical in maintaining high standards of corporate governance and fostering a culture that values ethical behaviour, integrity and respect to protect our Customers, Shareholders and other stakeholders’ interests at all times.
Our Governance Environment
The AVID Property Group team initiates, owns, manages and delivers residential and industrial projects. We leverage our broad range of expertise in all stages of the development process and the property industry. Our team’s knowledge and experience adds value to every stage of each development.
Internal Audit AVID Property Group has a Risk and Audit Committee which is independently chaired and assists the board in fulfilling its responsibilities for corporate governance and overseeing the company’s financial reporting, external audit function, internal control structure and risk management systems. Whilst AVID does not have an internal audit function, AVID undertakes periodic reviews using internal or external resources to review key processes and control. External Audit AVID Property Group is externally audited by PwC, one of Australia’s leading professional firms.
AVID Property Group has a corporate governance structure and hierarchy in place consisting of the Board, the CEO and the Executive Management Team, each of which plays an integral role in the oversight of AVID Property Group’s governance and performance. This corporate structure is formalised through the Committee Charters, Delegations of Authority, Code of Conduct and a comprehensive set of policies and procedures including a robust Operations Manual which form a fundamental part of AVID Property Group’s risk management, control and governance system. These policies and procedures remain under constant review as the corporate governance environment evolves.
AVID Property Group has a risk management system and approach which is guided by ISO 31000 Risk Management – Principles and Guidelines, the global standard for risk management and the Australian Securities Exchange’s Corporate Governance Principles (specifically principle 7) both of which are tailored to be appropriate for AVID Property Group and a number of other policies that seek to manage risks.
AVID has zero tolerance regarding fraud, bribery and corruption. AVID requires all employees and service providers to adhere to the highest standards of honesty and integrity in the conduct of all AVID projects. AVID will abide by all laws relevant to countering bribery, fraud and corruption in the jurisdictions in which AVID operates. Any allegation of a person from within or associated with AVID (notwithstanding the capacity in which they are acting), acting in a manner inconsistent with this statement will be treated seriously, regardless of the seniority of those involved. Where it is believed that a criminal offence may have been committed, the police and other relevant bodies may be informed. Any employee or third parties may report allegations of possible fraud, bribery and/or corruption practices related to the AVID anonymously via sendiong an email to enquiries@avid.com.au
At AVID we create communities that bring people together, to enhance their lives and the way they live. Our support for human rights and ethical labour practices is closely related to our core value of being authentic and community focussed. As a business, AVID has taken important steps to identify and report on, the risks of modern slavery in our operations and supply chains and take actions to address those risks. To read our full Modern Slavery Statement, click here.
Our Governance Structure
Our governance structure has been designed to enable independent auditing and objective risk management throughout the business.
