Risk Management

Risk

Veritas Asia Pacific Pty Ltd (VERITAS) has articulated the organisation’s Enterprise Risk Policy to provide direction to its management, staff, contract personnel and business partners (collectively termed personnel) for clarity and the foundation for the safe and effective delivery of our Total Asset Life Cycle Advisory services.

VERITAS provides independent, impartial, reliable and sustainable solutions to networked and asset intensive industries that include Aviation, Water, Power, Transport (Roads, Rail and Ferries), and the Resource sector. VERITAS also provides Total Asset Life Cycle Services to the Defence Industry and to all levels of Government, and specifically to the Education, Health and Transport portfolios.

As VERITAS as a differentiated and independent advisory service offering in the Asia Pacific region, it is committed to achieving best practice in the management of risks that presents threats to its clients, employees, IP and assets, operations, the community, or its own objectives.

As such, VERITAS is committed to:

  • Ensuring risk management becomes standard management practice throughout the firm;
  • Ensuring all employees, associates and contractors are conversant with managing risks and are actively participating in that process;
  • Protecting VERITAS from adverse events and instituting mitigating controls to minimise exposure to loss, should these events occur;
  • Reducing the cost impact of such adverse events to protect the viability of VERITAS;
  • Ensuring that the capacity and capability of VERITAS to deliver on its current and future commitments is unimpeded by any adverse events;
  • Identifying and reporting issues and risks to the Board of Directors and nominating owners to develop appropriate mitigation strategies and controls to manage the risks and issues on an ongoing basis;
  • Identifying risks associated with the intent of the Modern Slavery Act of 2018; assessing and identifying possible exposure to suppliers or clients that partake in human trafficking, servitude, forced labour, debt bondage, forced marriage, child labour or deceptive recruiting; and
  • Following the intent and guidance provided by ISO 31000 series of Risk Management Standards.

To achieve the above objectives, VERITAS applies its integrated management system to deliver projects, engagements and assignments, and to monitor and manage system performance and delivery metrics.

As part of its continuous improvement program, VERITAS regularly and critically reviews and evaluates its performance and applies learnings and opportunities for improvement to both its management system and service delivery methodologies.

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