As a Crown corporation, the WDBA is accountable to Parliament through the Minister of Infrastructure and Communities. As per the Financial Administration Act (FAA), the duties and responsibilities of the board are to set corporate objectives and direction, ensure good governance, monitor financial performance, approve budgets and financial statements, approve policies and by-laws, as well as ensure that risks are identified and managed.
Directors of the WDBA board are required to act honestly, diligently, carefully and in good faith, in accordance with the FAA. They are briefed on and operate under the terms of corporate by-laws designed to prevent conflict of interest, and they are required to recuse themselves from decision making related to potential areas of conflict of interest. The WDBA requires that each Director review and acknowledge his or her understanding of the principles expressed in the Conflict of Interest Code for Directors.