enhanced-commonwealth-performance-framework-discussion-paper

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95 Corporate plan for Commonwealth companies Commonwealth companies (1) The directors of a Commonwealth company must: (a) prepare a corporate plan for the entity; and (b) give the corporate plan to the responsible Minister and the Finance Minister in accordance with any requirements prescribed by the rules. (2) The corporate plan must comply with, and be published in accordance with, any requirements prescribed by the rules. (3) If: (a) a statement of the Australian Government’s key priorities and objectives is published under section 34; and (b) the purposes of the Commonwealth company relate to those priorities and objectives; then the corporate plan must set out how the activities of the company will contribute to achieving those priorities and objectives. Subsidiaries (4) If the Commonwealth company has subsidiaries, the corporate plan must cover both the company and its subsidiaries. In particular, for each subsidiary the corporate plan must include details of any matters prescribed by the rules, so far as they are applicable. 97 Annual reports for Commonwealth companies (1) The directors of a Commonwealth company must give the responsible Minister: (a) a copy of the company’s financial report, directors’ report and auditor’s report that the company is required by the Corporations Act 2001 to have for the reporting period for the company (or would be required by that Act to have if the company were a public company); and (b) for a wholly-owned Commonwealth company—any additional information or report prescribed by the rules. (2) The Commonwealth company must give the reports and information by: (a) if the company is required by the Corporations Act 2001 to hold an annual general meeting—the earlier of the following: (i) 21 days before the next annual general meeting after the end of the reporting period for the company; (ii) 4 months after the end of the reporting period for the company; and (b) in any other case—4 months after the end of the reporting period for the company; or the end of such further period granted under subsection 34C(5) of the Acts Interpretation Act 1901. (3) If the auditor’s report required by the Corporations Act 2001 was prepared by an auditor other than the Auditor-General, subsection (1) also requires the company to give a report by the Auditor-General on the financial statements. (4) In preparing a report for the purposes of subsection (3), the Auditor-General must use the same Corporations Act 2001 rules as applied to the report by the other auditor. Enhanced Commonwealth Performance Framework—Discussion Paper | 51
(5) If the Commonwealth company is a wholly-owned Commonwealth company, or is not required to hold an annual general meeting, the responsible Minister must table the documents in each House of the Parliament as soon as practicable after receiving them. In all other cases, the responsible Minister must table the documents in each House of the Parliament as soon as practicable after the annual general meeting of the company. Extract from the Public Governance, Performance and Accountability Rule 2014 17 Audit committee for Commonwealth entities (2) The functions must include reviewing the appropriateness of the accountable authority’s: (a) financial reporting; and (b) <strong>performance</strong> reporting; and (c) system of risk oversight and management; and (d) system of internal control; for the entity. Enhanced Commonwealth Performance Framework—Discussion Paper | 52
Page 1 and 2:
Enhanced Commonwealth Performance F
Page 3 and 4:
Contents Providing feedback .......
Page 5 and 6:
Providing feedback The Department o
Page 7 and 8: We want to build a performance mana
Page 9 and 10: At present the Commonwealth does no
Page 11 and 12: Once these new elements have been b
Page 13 and 14: Figure 1: Proposed enhanced perform
Page 15 and 16: 2 Enhanced performance framework 2.
Page 17 and 18: • introducing strict word limits
Page 19 and 20: Report 439—recommended that Finan
Page 21 and 22: Under the proposed framework, in th
Page 23 and 24: However, we recognise that existing
Page 25 and 26: Item Topic Description 3 Sector out
Page 27 and 28: Timeframe for updates It is propose
Page 29 and 30: Item Topic Description • programm
Page 31 and 32: Under the proposed model, the perfo
Page 33 and 34: 3 Possible future options 3.1 Inclu
Page 35 and 36: Table 3: Description of proposed el
Page 37 and 38: Element Topic Description Existing
Page 39 and 40: 3.2 Future options for evaluation H
Page 41 and 42: 4 Summary and conclusion Improving
Page 43 and 44: Attachment B: Australian National A
Page 45 and 46: Attachment C: Performance managemen
Page 47 and 48: New South Wales • Strong focus on
Page 49 and 50: Attachment D: The current performan
Page 51 and 52: Attachment E: The integrated resour
Page 53 and 54: Attachment F: Extracts from the PGP
Page 55 and 56: 36 Budget estimates for Commonwealt
Page 57: 82 Sharing information with other j
Page 61 and 62: Results achieved KPI title KPI targ
Page 63 and 64: Attachment I: Possible performance
Page 65 and 66: Programme summary Programme title Y
Page 67 and 68: Performance measurement methodology
Page 69 and 70: o outcome evaluations o summative e
Page 71 and 72: Topic and key questions Feedback Mo
Page 73: Topic and key questions Feedback Pe
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