Our risk management
Our approach to risk management aligns with the requirements of the Public Governance, Performance and Accountability Act 2013 and the Commonwealth Risk Management Policy.
This includes oversight from the audit and risk committees of the ATO and the TPB. Review of business performance and risk management is an ongoing leadership task, especially through weekly executive meetings, monthly Board meetings, and quarterly performance reporting.
Our risk management processes help to clarify our goals and strategic objectives, determine what must go right (our strategies), consider what may go wrong (potential risks), and look to prioritise, mitigate and manage key risks.
Key risks in 2022–23
The key enterprise risks we have identified for 2022–23 are:
- collaboration with co-regulators limited by differing priorities, reducing the effectiveness of our compliance outcomes and the efficiency of our service delivery
- system renewal delays and/or unsuitability, adversely impacting on service delivery and consumer confidence
- non-timely implementation of the Government’s response to the James Review, impeding the efficient and effective operations of the TASA, the TPB, tax practitioners and the consumers of tax services
- unforeseen business continuity impacts from natural disasters and events which degrade the resilience of the TPB organisation and supporting staff and prevent them from operating at full capacity.
We will continue to monitor, evolve and adjust our understanding and management of these risks, while also scanning for new risks and opportunities.
Last modified: 10 August 2022