The government of Alberta has announced a formal review of the Workers' Compensation Board (WCB.)

The review, to be conducted by a three-member panel, will examine a myriad of issues related to the WCB.

That includes policies related to privacy, transparency of the decision-making process and compensation.

The panel consists of John Carpenter, a lawyer with Chivers Carpenters law firm; Pemme Cunliffe, an in-house counsel with Covenant Health; and Mia Noirre, a labour relations consultant. Noirre will chair the panel.

Noirre said in a press release the panel will conduct a public consultation to gain an understanding of the impact of possible changes.

"We will reach out to Albertans to ensure we have a thorough understanding of different perspectives," said Noirre. "This will be beneficial as we work through the myriad of complex issues."

It will be the first comprehensive review of the WCB system in over 15 years.

Labour Minister Christina Gray said in a statement that "Albertans deserve a system that works for them when they need it."

The review will help ensure that the WCB provides "fair compensation and meaningful rehabilitation in a way that is sustainable and affordable," said Gray.

The panel is expected to provide a progress update in the fall of 2016. The final report is scheduled to be completed by the spring of 2017.

The WCB welcomed the review announcement.