Each year, the Board agrees upon its performance objectives and performance standards against which each will be measured. The Board currently has 13 key performance objectives against which it measures its performance at a collective and individual level.
- Company achieves sustained profitability
- Share price is maintained at an acceptable level to continuously improve shareholder wealth
- 100% compliance with all licence conditions
- 100% compliance with best practice corporate governance guidelines
- Improved shareholder communication
- Minimum risk exposure to the business
- 100% compliance with all Government Responsible Gambling Codes and practices
- Highly skilled and competent workforce who are rewarded for their efforts
- Independent assessment of activities
- The delivery by the business of highly competitive and profitable products and services
- The evaluation of performance of all those involved in the Company
- To support the local communities where the company conducts its business and where staff live and work
- To protect and maintain the privacy, accuracy and security of customer and financial information
Each year, an analysis is presented to the Board for their discussion setting out performance against the Key performance objectives.
The Nomination and Remuneration Committee takes responsibility for assessing performance of board members and committees and providing feedback to the Board. Further details of the evaluation procedure can be found by reviewing the IAS performance evaluation policy and procedure.
All new IAS staff, executives and directors undertake induction programs run by IAS management and Directors, upon joining IAS, receive a Director’s information kit containing copies of all policies and procedures. Directors also receive a reference file each month with information relevant to the operation of IAS and the industry more generally. Additionally the Board receives periodic briefings on topical issues. IAS utilises secure online communication for providing Board briefing materials and updates to Directors.
The Board has access to the resources of the Company Secretariat and also approves the appointment or removal of the Company Secretary on the advice of management. The Secretariat is responsible for providing reference files and monthly Board papers to each director, ensuring that management provides content in adequate detail. The Company Secretary is also responsible and accountable to the Board on all IAS governance matters.
