NSW Treasury has established its governance framework in line with the NSW Audit Office’s governance principles. Good governance promotes public confidence in NSW Treasury and is essential to our service delivery and the effective and efficient use of taxpayers’ money.

At NSW Treasury, good governance is represented by our policies, processes, systems and behaviours which ensure that we deliver on our vision. They also ensure we comply with all relevant laws, codes and directions while meeting community expectations of probity, accountability and transparency.

NSW Treasury’s internal policies and frameworks can be accessed below:


Statement of Business Ethics

NSW Treasury (Treasury) is committed to ethical business practices and having transparent, fair and honest business relationships with its commercial partners, contractors and suppliers of goods and services.

This Statement provides guidance for the private sector when doing business with Treasury. It outlines Treasury’s ethical standards and our expectation that our commercial partners, contractors and our goods and service providers will comply with these standards in all their dealings with us.

Treasury relies on the support of commercial partners (including both government and non-government agencies) and suppliers to assist in delivering public value as a service provider and central agency of Government. Treasury’s employees are expected to behave ethically and comply with the Code of Ethics and Conduct. Treasury also expects high standards of behaviour from firms and individuals that do business with the Department. 

What Treasury asks of commercial partners and suppliers

All commercial partners and suppliers are required to observe the following principles when doing business with Treasury:

  • Comply with applicable NSW Government procurement frameworks, policies, and codes of practice and act ethically, fairly and honestly in all dealings.
  • Not offer Treasury employees, contractors and consultants any financial inducements or any gifts, benefits, or hospitality that is not in  accordance with its Gifts and Benefits Policy.
  • Declare actual or perceived conflicts of interest as soon as such matters arise.
  • Prevent the disclosure of confidential Treasury information and protect Treasury’s intellectual property.
  • Assist Treasury to prevent fraud, corruption and unethical practices in business relationships by reporting wrongdoing (refer to practical guidelines below).

Treasury’s key business principles

Treasury’s key business principles include achieving value for money in the expenditure of public funds while being fair, ethical and transparent.

Treasury is committed to the NSW Procurement Board’s NSW Procurement Policy Framework.

Why Treasury’s commercial partners and suppliers should comply

Commercial partners and suppliers will be able to advance their business objectives and interests in a fair and ethical manner through complying with the basic principles of probity management as well as the NSW Procurement Board’s Procurement Policy Framework, and this Business Ethics Statement. There is no disadvantage as all Treasury’s commercial partners and suppliers must comply with these requirements.

Non-compliance with stated ethical requirements when doing business with Treasury, as well as demonstrated corrupt or unethical conduct, could lead to:

  • Termination of contracts;
  • Loss of future work;
  • Loss of reputation;
  • Investigation for corruption; and / or
  • Matters being referred for criminal investigation.

What commercial partners and suppliers can expect from Treasury employees

Treasury’s employees are bound by the core public sector values of integrity, trust, service and accountability as well as the Code of Conduct and are expected to:

  • Ensure that decisions and actions are reasonable, fair and appropriate to the circumstances, based on consideration of all the relevant facts, and be supported by relevant legislation, policies and procedures.
  •  Accept responsibility and be accountable for their actions in accordance with delegated functions, accountabilities, and the requirements of the Code of Ethics and Conduct.
  •  Actively promote the integrity and reputation of the public sector by always acting in the public interest and not engage in any activities that would bring the public sector into disrepute.
  •  Achieve the highest standards of ethics by treating Government, stakeholders, clients, suppliers and each other fairly and professionally.
  • Provide relevant and responsive service to clients and customers, with all necessary and appropriate assistance in accordance with agreed service standards.
  • Always act with care and diligence, utilising Treasury’s resources in a proper manner.

Last updated: 03/10/2023