Australian Government: Indigenous Business Australia
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Appendices and referencesCompliance and better practice index

8

IBA is bound by legislative requirements to disclose certain information in its annual report. The majority of the requirements are detailed in Subdivision B (Annual report for corporate Commonwealth entities) of Division 3A of the Public Governance, Performance and Accountability Rule 2014 (PGPA Rule) and the Aboriginal and Torres Strait Islander Act 2005(ATSI Act)

IBA’s commitment to better practice in its annual reporting is demonstrated through voluntary compliance with some additional principles from the Australian Securities Exchange Corporate Governance Council’s Corporate Governance Principles and Recommendations, 3rd edition (CGPR).

Mandatory requirements

Requirement

Reference

Page location

Financial statements

Public Governance, Performance and Accountability Act 2013, section 43 and PGPA (Financial Reporting) Rule 2015

Financial statements

Financial statements certification: Auditor General’s Report

PGPA Act, section 43

Financial statements

Financial statements certification: a statement signed by the directors

PGPA Act, section 42

Financial statements

Fraud risk assessment and control

Public Governance, Performance and Accountability Rule 2014, section 10

Internal governance

Approval by accountable authority

ARR 2016PGPA Rule, section 17BB

Letter of transmittal

Parliamentary standards of presentation

PGPA Rule, section 17BC

Throughout

Plain English and clear design

PGPA Rule, section 17BD

Throughout

Legislation establishing the body

PGPA Rule, section 17BE (a)

About IBA, Annual performance
statements
, Accountability

Objects, functions and purposes

PGPA Rule, section 17BE (b)

Annual performance
statements

Responsible minister

PGPA Rule, section 17BE (c)

Accountability

Ministerial directions

PGPA Rule, section 17BE (d) and ATSI Act, section 189(1)(a) , Schedule 2, Part 4

Accountability

Government policy orders

PGPA Rule, section 17BE (e)

Accountability

Details of any non-compliance with government policy orders, ministerial directions or finance law

PGPA Rule, section 17BE (f)(h)(i)

Internal governance

Annual performance statements

PGPA Rule, section 17BE (g)

Annual performance
statements

Information about the accountable authority, including each director’s name, qualifications, experience and number of meetings attended

PGPA Rule, 17BE (j)

IBA board

Organisational structure (for IBA and subsidiaries)

PGPA Rule, 17BE (k)

Internal governance

Location of major activities and facilities

PGPA Rule, 17BE (l)

Workforce profile, Contact
information

Main corporate governance practices used by the entity

PGPA Rule, 17BE (m)

Governance

Related entity transactions

PGPA Rule, 17BE (n)(o)

IBA board

Significant activities and changes that affected the operations or structure of the entity

PGPA Rule, 17BE (p)

External scrutiny

Significant judicial or administrative tribunal decisions

PGPA Rule, 17BE (q)

External scrutiny

External Reports made about IBA

PGPA Rule, 17BE (r)

External scrutiny

Obtaining information from subsidiaries

PGPA Rule, 17BE (s)

Not applicable; all relevant material was provided by subsidiaries

Indemnities and insurance premiums for officers

PGPA Rule, 17BE (t)

IBA board

Compliance index

PGPA Rule, 17BE (u)

Compliance and better
practice index

New Housing Fund financial statements

ATSI Act, subsection 189(2)

Financial statements

Consultants engaged

ATSI Act, subsection 189(1)(b)

Internal governance, Appendix A: Consultants

Work health and safety

Work Health and Safety Act 2011, Schedule 2, Part 4

Employee wellbeing

Ecologically sustainable development and environmental performance

Environment Protection and Biodiversity Conservation Act 1999, section 516A

Environmental performance

Information Publication Scheme statement

Freedom of Information Act 1982, Part II

External scrutiny

Better practice principles

CGPR principle

Page location

1 Lay solid foundations for management and oversight: A listed entity should establish and disclose the respective roles and responsibilities of its board and management and how their performance is monitored and evaluated. IBA board, Internal governance
2 Structure the board to add value: A listed entity should have a board of an appropriate size, composition, skills and commitment to enable it to discharge its duties effectively. IBA board
3 Act ethically and responsibly: A listed entity should act ethically and responsibly. Internal governance
4 Safeguard integrity in corporate reporting: A listed entity should have formal and rigorous processes that independently verify and safeguard the integrity of its corporate reporting. IBA board, Internal governance, Financial statements
5 Make timely and balanced disclosure: A listed entity should make timely and balanced disclosure of all matters concerning it that a reasonable person would expect to have a material effect on the price or value of its securities. External scrutiny
6 Respect the rights of security holders: A listed entity should respect the rights of its security holders by providing them with appropriate information and facilities to allow them to exercise those rights effectively. Not applicable
7 Recognise and manage risk: A listed entity should establish a sound risk management framework and periodically review the effectiveness of that framework. Internal governance
8 Remunerate fairly and responsibly: A listed entity should pay director remuneration sufficient to attract and retain high-quality directors and design its executive remuneration to attract, retain and motivate high-quality senior executives and to align their interests with the creation of value for security holders. IBA board, Employee relations

 

 

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