The Department of Treasury and Finance released the updated Victorian Government Risk Management Framework (VGRMF) in August 2020 . This will replace the current VGRMF on 1 July 2021.
Attestation for the current financial year 2020-2021
For this financial year (2020-2021), the current VGRMF is in place.
A range of VGRMF tools and resources are still available for you to use, see below.
A revised VGRMF– effective from 1 July 2021
The revised VGRMF comes into effect on 1 July 2021. The fiscal year 2021-2022 will be the first financial year that agencies must attest against VGRMF 2021.
We’re currently developing materials that are fit for purpose and support you in your role. You can find more information on our revised VGRMF guidance materials and resource development.
For more information and to access the framework, visit the Department of Treasury and Finance website.
The VGRMF provides a minimum common risk management standard for agencies.
Agencies are required to identify and contribute to the management of both interagency and State significant risks.These practice notes have been designed to provide practical support, advice and guidance.
The Responsible Body must be satisfied risk management is incorporated into the agency’s corporate and business planning processes. These practice notes have been developed to provide practical support, advice and guidance to help agencies meet the mandatory requirements.