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Chapter 9: Statutory report

Statutory reporting requirements
 
APRA reports in accordance with the following Commonwealth legislation and other requirements:
  • Australian Prudential Regulation Authority Act 1998;
  • Environment Protection and Biodiversity Conservation Act 1999;
  • Equal Employment Opportunity (Commonwealth Authorities) Act 1987;
  • Freedom of Information Act 1982;
  • Occupational Health and Safety Act 1991 and Work Health and Safety Act 2011;
  • Commonwealth Fraud Control Guidelines; and
  • Requirements for annual reports for departments, executive agencies and FMA Act bodies.
APRA's financial arrangements are also subject to the Financial Management and Accountability Act 1997.
 
Australian Prudential Regulation Authority Act 1998 (APRA Act)
 
Section 59 of the APRA Act requires APRA to report on:
  • the activities of ADI statutory managers within the meaning of the Banking Act 1959 and persons conducting investigations under Division 2 of Part II and section 61 of that Act;
  • the operation of Division 2AA (Financial Claims Scheme for account-holders with insolvent ADIs) of Part II of the Banking Act 1959;
  • the operation of Part VC (Financial Claims Scheme for policyholders with insolvent general insurers) of the Insurance Act 1973;
  • the number of times during the year that APRA determined, under subsection 13(1) of the Financial Sector (Collection of Data) Act 2001, a reporting standard that is not a legislative instrument; and
  • the exercise during the year of APRA's powers under Part 15 of the Retirement Savings Accounts Act 1997 (RSA Act) and Part 29 of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
APRA did not appoint any ADI statutory managers or persons to conduct an investigation under Division 2 of Part II or section 61 of the Banking Act 1959 during 2011/12. There were no continuing appointments during the year.
 
There were no schemes in operation under Division 2AA of Part II of the Banking Act 1959.
 
On 15 October 2009, the Minister made a declaration under section 62ZZC of the Insurance Act 1973 that Division 3 of Part VC of that Act applied in relation to a general insurer1. Payments totaling $1,358,137 were made from the Financial Claims Scheme Special Account in 2011/12 to satisfy claims against the general insurer.
 
APRA did not determine any reporting standards under subsection 13(1) of the Financial Sector (Collection of Data) Act 2001 during 2011/12 that were not legislative instruments.
 
APRA did not exercise its powers under Part 15 of the RSA Act in 2011/12.
 
APRA exercised its powers under Part 29 of the SIS Act as set out below:
 
Exemption number Date Provision of SIS Act/regulations exempted
A13 of 2011 01/07/2011 Regulation 9.29
A15 of 2011 03/08/2011 Regulation 6.34
A16 of 2011 29/07/2011 Section 93(4)
A17 of 2011 21/12/2011 Regulation 6.34
A18 of 2011 21/12/2011 Regulation 6.37
A19 of 2011 21/12/2011 Regulation 6.37
A20 of 2011 21/12/2011 Section 93(1)
A1 of 2012 03/01/2012 Regulation 9.29(1)
A2 of 2012 03/02/2012 Regulation 7.04(3)
A3 of 2012 11/05/2012 Regulation 6.18(3)
A4 of 2012 29/06/2012 Regulation 9.04D
A5 of 2012 29/06/2012 Regulation 9.29(1)(B)
A6 of 2012 28/06/2012 Regulation 9.04D(3)
A7 of 2012 29/06/2012 Regulations 9.29D(1) and 9.30(2)
 
Modification declaration number - particular entity Date Provision of SIS regulations modified
A9 of 2011 07/07/2011 Regulation 6.17(2)(a)(i)
A10 of 2011 22/08/2011 Regulation 6.17(2)(a)(i)
A11 of 2011 27/09/2011 Regulation 1.03
A12 of 2011 07/11/2011 Regulation 6.17(2)(a)(i)
A13 of 2011 28/11/2011 Regulations 6.20A, 6.21, 7A.03J, 7A.03K, 7A.12 and 7A.13
A14 of 2011 20/12/2011 Regulation 6.17(2)(a)(i)
A1 of 2012 24/01/2012 Regulation 6.17(2)(a)(i)
A2 of 2012 21/02/2012 Regulation 6.17(2)(a)(i)
A3 of 2012 29/03/2012 Section 89(2)
A6 of 2012 16/06/2012 Regulation 9.25
A8 of 2012 28/06/2012 Regulation 1.07(D)(1)(d)
A9 of 2012 29/06/2012 Section 89(2)
 
Environment Protection and Biodiversity Conservation Act 1999
 
Ecologically sustainable development and environmental performance
 
APRA's Environmental Policy Statement reinforces its commitment to operating in an ecologically sustainable manner and APRA continues to take practical steps to reduce its environmental impact. Measures include zone-controlled lighting; energy-efficient power management settings on office equipment; recycling of paper, cardboard, printer cartridges and office furniture; and staff awareness on environmental issues.
 
APRA has an Environmental Issues Subgroup (EIS) that examines environmental issues in APRA's day-today operations referred to it by staff, as well as areas where APRA could further reduce wastage and carbon emissions. During 2011/12, the EIS was active in encouraging recycling, continuing to provide education about environmental alternatives and promoting the recycling of mobile phones.
 
APRA will continue to make improvements in its environmental management and, where possible, adopt environmentally friendly options.
 
EEO staff data - staff diversity as at 30 June 2012*
 
Level Female Male ATSI NESB1 NESB2 PWD
Level 1 18 12 0 9 0 0
Level 2 71 30 0 17 0 1
Level 3 77 85 0 57 3 1
Level 4 79 147 1 47 2 2
Senior 20 78 0 9 2 2
Executive 1 6 0 1 0 0
Total 266 358 1 140 7 6
 
* Includes permanent and fixed-term staff but excludes casuals.
 
ATSI Aboriginal and Torres Strait Islander
 
NESB1 Non-English-speaking background, first generation
 
NESB2 Non-English-speaking background, second generation
 
PWD People with disability
 
Equal Employment Opportunity (Commonwealth Authorities) Act 1987 (EEO Act)
 
Workplace diversity program report
 
APRA has maintained an innovative approach to meeting its responsibilities under the EEO Act through a comprehensive workplace diversity strategy across the organisation. APRA fosters an inclusive and flexible workplace that values and utilises the contribution of people of different backgrounds, experiences, perspectives and abilities. The strategy retains the essential EEO principles in relation to non-discrimination and equal employment opportunity, and also recognises the broader concept of diversity in ensuring a tolerant workplace free from all forms of harassment.
 
APRA encourages staff to balance their work and personal commitments through offering a range of flexible work arrangements, such as coreless variable hours, a compressed working week and purchased additional leave, job-sharing, telecommuting, and leave options for the purpose of family responsibilities and career/personal development. APRA also provides a range of 'family friendly' benefits including 14 weeks paid maternity and adoption leave, two weeks paid partner's leave and a 'Keeping-in-Touch' program that allows women to stay connected while on maternity leave. APRA partners with a service provider to provide support to staff who have dependants and require care arrangements, whether for children or senior dependants. In addition, APRA is committed to retaining the skills, expertise and corporate knowledge of staff approaching retirement age through a 'Transition to Retirement' program and other measures.
 
APRA is a member of Diversity Council Australia, an independent, not-for-profit diversity adviser to business, and partners with it on a number of diversity initiatives to ensure that APRA stays current and consistent with industry benchmarks. Diversity Council Australia also provides APRA's Staff Consultative Group and selected human resources staff with specialist training to perform the important role of Contact Officers. APRA's Contact Officers are available to provide confidential and impartial assistance to any staff with workplace diversity concerns at APRA.
 
Freedom of Information Act 1982 (FOI Act)
 
The FOI Act provides the public with a general right of access to documents held by Commonwealth agencies, including APRA. This general right is limited by exceptions needed to protect essential public interests or the privacy and business affairs of those who give information to APRA or the Commonwealth.
 
In 2011/12, APRA dealt with 98 applications for access to documents under the FOI Act and one application for internal review. Of the 98, two were on hand at the beginning of the period and the other 96 were new applications. Five applicants disagreed with APRA's decision on access to documents and applied to the Information Commissioner for review under Part VII of the FOI Act. The Commissioner decided not to undertake a review for one of these applications and has yet to determine the remaining four applications. The Commissioner also affirmed a decision made by APRA in 2010/11.
 
During the year, the FOI applications for access were dealt with as follows:
 
Granted in full 15
Granted in part 13
Access refused 43
Withdrawn 16
Transferred to another agency 0
On hand at 30 June 2012 11
Total 98
 
Charges collected were $589 and the estimated cost of handling initial FOI requests and internal review requests in 2011/12 was approximately $58,756.
 
Information Publication Scheme
 
APRA is required to publish certain information on its website as part of the Information Publication Scheme. This includes information about its structure, functions and statutory appointments; 'operational information' that guides its decisions or recommendations that affect members of the public; and information about how the public can comment on its prudential policy proposals. The requirement, in Part II of the FOI Act, has replaced the former requirement to publish a Section 8 statement in the annual report.
 
APRA's information publication plan shows the information APRA publishes in accordance with these Scheme requirements and is accessible from the APRA website.
 
Occupational Health and Safety Act 1991 (OHS Act) and Work Health and Safety Act 2011 (WHS Act)
 
The WHS Act replaced the OHS Act from 1 January 2012. APRA is reporting under the OHS Act for the first six months of 2011/12 and under the WHS Act for the second six months.
 
Details of investigations and other matters as prescribed
 
In compliance with reporting obligations under section 74 of the OHS Act and Schedule 2, Part 4 of the WHS Act, there were:
  • no investigations conducted during the year that related to undertakings carried on by APRA;
  • no tests conducted on any plant, substance or thing in the course of such investigations;
  • no directions to APRA by an investigator that the workplace not be disturbed; and
  • no prohibition or improvements and provisional notices given to APRA.
Measures taken to ensure health, safety and welfare of employees and contractors
 
APRA has been working to ensure that the following areas comply with the new WHS Act: terms and training of health and safety representatives; policies and guidelines; terms of reference of the Work Health and Safety Committee; education of staff about roles and responsibilities under the new legislation; and resolution procedures for work health and safety issues.
 
Responsibilities imposed by the WHS Act were identified and allocated to individual staff members. They included the identification and training of two new health and safety staff representatives in Sydney.
 
Procedures for dealing with health and safety issues are published on APRA's intranet site and are included in staff induction programs.
 
During 2011/12, a new online ergonomic assessment tool was fully implemented across APRA. This tool helps to identify any health and safety risk with respect to desk-based work through a short online survey completed by staff. Workstation assessments carried out after completion of the survey revealed that only minimal modifications to desk-based work were required in most instances.
 
First-aid services for the treatment of work-related injury or illness, including appropriately trained first-aid officers, are situated at all work locations. Rehabilitation services and support are provided to injured employees. Two new First-Aid Officers were trained in 2011/12.
 
Comprehensive health assessments continue to be provided to staff at senior levels as well as to those aged 50 and over. Shorter health checks are provided to staff aged 40-49 and a 15-minute 'cardiac risk assessment' check to all other staff. These assessments are not compulsory and APRA is provided with statistical data only (not personal details or results of the assessments). As in previous years, all staff are offered an annual influenza vaccination; in 2011/12, 43 per cent of staff accepted this offer compared with 45 per cent the previous year.
 
WHS policies including establishment of staff committees and selection of health and safety representatives
 
APRA has arrangements for consultation on all occupational health and safety issues, including maintenance of the WHS Committee with four staff and four management representatives.
 
The WHS Committee satisfies legislative requirements, including meeting at least every three months and providing all staff with access to minutes of the meetings.
 
Statistics requiring the giving of notice under section 68
 
During the year, four incidents were notified to APRA, none of which required a report to Comcare under section 68 of the OHS Act or under Part 3 of the WHS Act. No incidents were on APRA premises.
 
Other reporting
 
Advertising and market research
 
The Commonwealth Electoral Act 1918 requires Commonwealth agencies to report annually on the amounts paid to advertising agencies, market research and media advertising organisations. In 2011/12, APRA paid $116,237 to Adcorp Australia Ltd for recruitment advertising. APRA conducted no advertising campaigns during 2011/12.
 
Agency resources and expenses by outcome
 
 
Auditor-General's activities
 
The Australian National Audit Office (ANAO) undertook the required statutory financial audit of APRA for 2011/12. APRA was included as a respondent to two performance audits. The first was on the Administration of Grant Reporting Obligations. APRA has updated its website as a result of this report. The second was on the Development and Approval of Grant Program Guidelines. APRA supported the recommendations of the report and noted that its grant program is modest.
 
Collective Agreements and common law contracts
 
As at 30 June 2012, 534 staff were covered by the collective APRA Employment Agreement, 2011. One hundred and two senior staff were covered by common law agreements.
 
All staff are appointed under the APRA Act 1998. APRA applies a total remuneration approach whereby all salary, superannuation and 'salary sacrifice' benefits are included in an employee's total remuneration package (TRP).
 
The TRP pay ranges for non-executive staff as at 30 June 2012 were:
 
Level 4 $115,024 - $191,672
Level 3 $80,600 - $134,264
Level 2 $54,912 - $91,520
Level 1 $38,272 - $63,752
 
Commonwealth Fraud Control Guidelines
 
The Chairman of APRA certifies that he is satisfied that:
  • fraud risk assessments and fraud control plans have been prepared that meet APRA's needs and comply with the Commonwealth Fraud Control Guidelines;
  • appropriate fraud prevention, detection, investigation, reporting and data collection procedures and processes are in place; and
  • APRA has taken all reasonable measures to minimise the incidence of fraud and to investigate and recover the proceeds of fraud.
Commonwealth Ombudsman
 
In 2011/12, the Commonwealth Ombudsman did not commence any new investigations into APRA's conduct. There were three outstanding investigations from 2010/11 related to applications for the early release of superannuation benefits. With the transfer of the early release function to the Department of Human Services from 1 November 2011, these applications will be reported on by the Department of Human Services.
 
Commonwealth Procurement Guidelines
 
The APRA Chairman's Finance Instructions and Finance Policies, and associated operational procedures, ensure that APRA's procurement process complies with the Commonwealth Procurement Guidelines (CPGs). In particular, they ensure that the core procurement principle of value for money is observed.
 
As an FMA Act agency, APRA conducts its procurement processes within the CPGs, including but not limited to:
  • conducting open tenders for procurement activities of more than $80,000 (unless otherwise exempted under the CPGs);
  • reporting all procurements over $10,000 on AusTender; and
  • reporting all purchases over $100,000 on APRA's website.
In 2011/12, APRA had no AusTender-exempt contracts and all APRA competitively tendered contracts over $100,000 provided for the Auditor-General to have access to the contractor's premises.
 
Consultancies
 
APRA's Chairman's Finance Instructions and Finance Policies, and associated operational procedures, include specific provisions on consultants.
 
APRA engages consultants where it lacks specialist expertise or when independent research, review or assessment is required. Consultants are typically engaged to investigate or diagnose a defined issue or problem; carry out defined reviews or evaluations; or provide independent advice, information or creative solutions to assist in APRA's decision-making.
 
Prior to engaging consultants, APRA takes into account the skills and resources required for the task, the skills and resources available in-house, and the cost-effectiveness of engaging external expertise. The decision to engage a consultant is made in accordance with the FMA Act and related regulations, including the Commonwealth Procurement Guidelines, and with internal policies.
 
During 2011/12, APRA entered into 35 new consultancy contracts involving total actual expenditure of $1.06 million. In addition, 13 ongoing consultancy contracts were active during the year, involving total actual expenditure of $2.05 million. Total expenditure on consultancies in 2011/12 was $311 million, including $0.99 million of capitalised expenses.
 
Information on the value of contracts and consultancies is available on the AusTender website www.tenders.gov.au.
 
Consultative arrangements
 
APRA consults extensively with regulated entities, industry bodies and other interested parties prior to formulating or amending prudential policies or finalising prudential standards.
 
APRA complies with the Government's policy on best practice regulation. During 2011/12, APRA fully met the requirements of the Office of Best Practice Regulation (OBPR) for Regulation Impact Statements on new legislative instruments (one in number). In addition, APRA completed 14 preliminary assessments for other regulations made or tabled during this period, for which the OBPR advised that further regulation analysis was required in one matter.
 
Courts and tribunals
 
Over 2011/12, there were no judicial decisions that had or may have a significant effect on APRA's operations.
 
The section of this Report headed APRA's supervisory activities in 2011/12 contains details of court and tribunal decisions relating to enforcement action taken by APRA during the year.
 
Executive and consultative committees from 1 July 2011 to 30 June 2012
 
Management Group
 
This Group comprises the APRA Members and the Executive General Managers and is responsible for high-level information-sharing and decisions on more routine supervisory and organisational matters. It meets weekly or more frequently as required.
 
Leadership Team
 
The Leadership Team, which comprises APRA Members, Executive General Managers and General Managers, meets twice a year to develop APRA's strategic and business plans, to monitor performance against plans and to discuss major operational issues.
 
Steering Groups
 
To strengthen its efficiency and effectiveness and to coordinate decision-making across its different divisions, APRA has three Steering Groups responsible for the prioritisation and implementation of a range of initiatives. These Groups comprise an APRA Member as Chair and relevant Executive General Managers and General Managers. The Groups are:
  • Supervision Steering Group. This Group oversees the development and integration of APRA's supervisory systems, tools and processes.
  • Infrastructure Steering Group. This Group oversees the development of APRA's physical and IT infrastructure and its business, financial and resource planning systems.
  • People and Engagement Steering Group. This Group addresses initiatives on management and leadership, performance management, rewards and recognition, and APRA culture.
Industry groups
 
There are four industry groups, comprising representatives of the various divisions of APRA. They cover APRA's four regulated industries:
  • ADIs;
  • superannuation;
  • general insurance; and
  • life insurance (including friendly societies).
These groups are important fora for identifying and seeking an APRA-wide assessment of emerging industry issues. Their main roles are to liaise with industry so as to identify emerging trends and to act as a sounding board for prudential policy issues in the different industries, prior to presentation of these issues to the Executive Group.
 
Licensing Group
 
This Group, comprising representatives from across APRA, seeks to assist supervisors considering licence applications and ensure consistency in licensing practice and application across all APRA-regulated industries. It provides APRA-wide guidance on issues that need to be considered in licensing submissions and, after consideration of an application, recommends to the relevant Executive General Manager action to be taken.
 
Enforcement Committee
 
This Committee comprises an APRA Member as Chair, an Executive General Manager and representatives of supervision, enforcement and legal. It ensures that a whole-of-APRA perspective is brought to potential, and actual, investigation and enforcement actions. The Committee monitors ongoing enforcement actions and provides a forum to ensure a consistent approach is taken to any significant use of coercive powers by areas within APRA.
 
International committees
 
APRA has two committees that coordinate its involvement with international bodies, one for banking and one for insurance. Their purpose is to prioritise resource allocation for APRA's involvement in international activities, coordinate consistent and timely responses to issues raised in the relevant international fora and ensure information from international sources is communicated effectively within APRA. Membership includes senior APRA staff involved in international committee work and also draws on other APRA staff with relevant expertise.
 
Work Health and Safety Committee
 
This Committee, which includes both staff and management representatives, focusses on issues to do with the health, safety and wellbeing of staff and ensures that these are integrated into broader management systems and practices.
 
Staff Consultative Group
 
This Group facilitates communication and consultation with all APRA staff below the senior management level on the terms and conditions of their employment (including the Human Resources Policy Manual) and the impact of these on APRA's organisational culture and values.
 
Security Group
 
This Group is the key forum for maintaining strategic and operational oversight of APRA's security policy, initiatives and their implementation. Its main priority is to develop an overarching policy and governance strategy on all security matters affecting APRA and to take the measures necessary to implement the strategy.
 
Grant programs
 
Grant programs, including discretionary grant programs, that APRA either jointly administers or participates in are the:
  • Brian Gray Scholarship;
  • University of New South Wales (UNSW) Cooperative Actuarial Scholarship;
  • Australian Research Council Linkage Grants with UNSW and the Australian National University; and
  • sponsorship of PhD research students through the Capital Markets Cooperative Research Centre.
Information on the Brian Gray Scholarship program and a list of previous recipients is on APRA's website at www.apra.gov.au/AboutAPRA/WorkingAtAPRA/Pages/brian-gray-scholarship-program.aspx. Information on other grants awarded by APRA is available on APRA's website at www.apra.gov.au/AboutAPRA/Pages/grants-and-scholarships.aspx.
 
Indemnities and insurance premiums
 
APRA Members and officers are covered by the professional indemnity insurance cover of the Commonwealth-managed insurance scheme, Comcover. The generic terms and conditions of the insurance cover provided by Comcover to Commonwealth agencies are available on the Comcover website www.finance.gov.au/comcover. Under the conditions of the cover, APRA is prohibited from disclosing the specific nature and limit of the liabilities covered and the amount of the premium.
 
Legal Services Directions 2005
 
The Legal Services Directions 2005 require Commonwealth agencies to make available publicly information on records of their legal services expenditure for the previous financial year.
 
During 2011/12, APRA's total expenditure on external legal advice and litigation services was $2.50 million (including GST).
 
National Disability Strategy
 
Since 1994, Commonwealth departments and agencies have reported on their performance as policy adviser, purchaser, employer, regulator and provider under the Commonwealth Disability Strategy. In 2007/08, reporting on the employer role was transferred to the Australian Public Service Commission's State of the Service Report and the APS Statistical Bulletin. These reports are available at www.apsc.gov.au. From 2010/11, APRA is no longer required to report on its performance under these various roles.
 
The Commonwealth Disability Strategy has been overtaken by a new National Disability Strategy that sets out a 10-year national policy framework for improving life for Australians with disability, their families and carers. A high-level report to track progress of people with disability will be produced by the Standing Council on Community, Housing and Disability Services for the Council of Australian Governments and will be available at www.fahcsia.gov.au. The Social Inclusion Measurement and Reporting Strategy agreed by the Government in December 2009 will also include some reporting on disability matters in the regular How Australia is Faring report and, if appropriate, in strategic change indicators in APRA's annual reports. More detail on social inclusion matters can be found at www.socialinclusion.gov.au.
 
APRA continues to ensure that those with disabilities face no obstacles in public access to information through APRA's internet website. For those services that are not provided electronically, there is regular assessment to ensure that particular groups are not excluded by virtue of either their financial circumstances or their physical or intellectual disability. APRA supports access for people with speech or hearing disabilities via Telstra's service for TTY (Text Telephone) users and maintains a freecall number and email address to accept and respond to enquiries and feedback.
 
APRA also ensures that all employment policies, guidelines and processes meet the requirements of the Disability Discrimination Act 1992 and do not discriminate on the basis of disability. APRA's commitment to this Act is included in its Human Resources Policy Manual and Code of Conduct. APRA's recruitment policy ensures that recruitment advertising does not dissuade people with disabilities who have the necessary experience, skills and qualifications from submitting applications for employment. The policy also ensures that selection processes take into account the special needs of applicants, so that those with disabilities are not disadvantaged.
 
Parliamentary committees
 
Avenues through which APRA is accountable to the Parliament include Parliament's ad hoc and standing committees, and specific references on legislation or issues of particular interest to Parliamentary committees.
 
During 2011/12, APRA Members and officers made themselves available for public hearings before the:
  • Senate Economics Legislation Committee (sitting as Senate Estimates) on 20 October 2011, 16 February 2012 and 29 May 2012;
  • House of Representatives Standing Committee on Social Policy and Legal Affairs in its inquiry into the operation of the insurance industry during disaster events on 24 November 2011;
  • Parliamentary Joint Committee on Corporations and Financial Services in its inquiry into the collapse of Trio Capital on 30 August 2011, 6 September 2011 and 4 April 2012; and
  • Parliamentary Joint Committee on Corporations and Financial Services in its inquiry into Superannuation Legislation Amendment (MySuper Core Provisions) Bill 2011 on 2 March 2012.
In August 2011, APRA made a submission to the Parliamentary Joint Committee on Corporations and Financial Services inquiry into the collapse of Trio Capital.
 
In May 2012, APRA also made a submission to the Senate Economics References Committee's inquiry into the effects if the global financial crisis on the Australian banking sector.
 
Transcripts of APRA's appearances before, and copies of its submissions to, parliamentary committees may be downloaded from the Parliament of Australia's website www.aph.gov.au.
 
Performance pay
 
APRA has a performance bonus system, designed in consultation with staff and management and covering all employees. For 2011/12, the aggregate bonus pool was $4.69 million. Under deferred bonus arrangements introduced in the APRA Employment Agreement, 2011/12 bonuses will be paid in December 2012 to eligible staff still in APRA's employ at that date.
 
Privacy Commission
 
There were no investigations by the Privacy Commissioner under section 40 of the Privacy Act 1988 during 2011/12. No reports were served under section 30 of the Act. The Privacy Commissioner made no determinations under section 52, nor did APRA seek any under section 73.
 
There were no adverse or favourable comments made by the Privacy Commissioner in respect of APRA's operations.
 
Privacy inquiries relating to APRA should be addressed to:
 
The Privacy Officer
Legal Group
Australian Prudential Regulation Authority
GPO Box 9836
Sydney NSW 2001
Phone: 02 9210 3000
Fax: 02 9210 3424
 
Responsible Ministers
 
The Hon Wayne Swan MP, Deputy Prime Minister and Treasurer of the Commonwealth of Australia, has portfolio responsibility for APRA.
 
He is assisted in this role by the Hon Bill Shorten MP, Minister for Financial Services and Superannuation and Minister for Employment and Workplace Relations.
 
Staff statistics
 
Staff by location and full-time/part-time as at 30 June 2012*
 
Location Full-time Part-time Total
Adelaide 5 1 6
Brisbane 14 1 15
Canberra 3 0 3
Melbourne 62 7 69
Perth 3 2 5
Sydney 486 40 526
Total 573 51 624
 
Staff by division and full-time/part-time as at 30 June 2012*
 
Division Full-time Part-time Total
Corporate 111 12 123
Diversified Institutions 116 5 121
Policy, Research and Statistics 89 11 100
Specialised Institutions 134 10 144
Supervisory Support 123 13 136
Total 573 51 624
 
* Includes permanent and fixed-term staff but excludes casuals.
 
Full-time equivalent (FTE) staff strength as at 30 June 2012
 
Permanent 590.6
Fixed-term 14.0
Casual 1.6
Total 606.3
 
Agency resources and expenses by outcome
 
Under the Requirements for annual reports for departments, executive agencies and FMA Act bodies, issued by the Department of Prime Minister and Cabinet, APRA must provide information outlining it's various funding sources during the financial year and total expenses for each Agency outcome. To this end, APRA's Agency Resource Statement and Expenses by Outcome Statement for 2011/12 are set out below.
 
Agency Resource Statement
 
  Actual available appropriation
$'000
Payments made
$'000
Balance remaining
$'000
  (a) (b) (a) - (b)
Ordinary annual services1      
Departmental appropriation 22,328 21,390 938
Total 22,328 21,390 938
Total ordinary annual services A 22,328 21,390  
Special Accounts      
Opening balance 41,756    
Appropriation receipts 21,390    
Non-appropriation receipts 100,397    
Payments made   118,991  
Total Special Account B 163,543 118,991 44,552
Total resources and payments      
A+B 185,871 140,381  
Less appropriations drawn from annual or special appropriations above and credited to special accounts 21,390 21,390  
Total net resourcing and payments for APRA 164,481 118,991  
 
1 This combines Appropriation Bill (No.1) 2011/12, and relevant prior and current year receipts from independent sources.
 
Expenses by Outcome Statement
 
Outcome 1: Enhanced public confidence in Australia's financial institutions through a framework of prudential regulation which balances financial safety and efficiency, competition, contestability and competitive neutrality.
  Budget
$'000
Actual expenses
$'000
Variation
$'000
  (a) (b) (a) - (b)
Program 1.1: Australian Prudential Regulation Authority      
Departmental expenses      
Departmental appropriation1 17,868 17,868 -
Special Accounts 95,211 95,211 -
Expenses not requiring appropriation in the budget year 3,823 8,040 (4,217)
Total expenses for Outcome 1 116,902 121,119 (4,217)
 
  2010/11 2011/12  
Average staffing level (number) 619 606 12
 
1 Departmental appropriation combines 'Ordinary annual services (Appropriation Bill No. 1)' and 'Revenue from independent sources'.
 
List of requirements
 
The following list of mandatory annual reporting requirements, as outlined in the Requirements for annual reports for departments, executive agencies and FMA Act bodies approved by the Joint Committee of Public Accounts and Audit, has been annotated with either 'not applicable' or the location of the information in this Report.
 
Part of Report Description Location or applicability
  Letter of transmittal  
  Glossary  
  Contact officer(s)  
  Internet home page address and internet address for report  
Review by Chairman Chapter 1
Overview of Authority Overview Chapter 7
Role and functions Chapters 2-5
Organisational structure  
Outcome and program structure Chapter 6
Report on performance Review of performance in relation to programs and contribution to outcomes Chapter 6
Actual performance in relation to deliverables and KPIs Chapter 6
Narrative discussion and analysis of performance Chapters 2-5
Trend information Chapters 2-5
Performance against service charter customer service standards Not applicable
Discussion and analysis of the Authority's financial performance Chapter 6
Discussion of any significant changes from prior year, from budget or anticipated to have a significant impact on future operations Not applicable
Authority's resource statement and summary resource tables by outcomes Chapter 9
Developments since the end of the financial year that have affected or may significantly affect the Authority's operations or financial results in future Not applicable
Corporate governance Compliance with the Commonwealth Fraud Control Guidelines Chapter 7
Statement of the main corporate governance practices in place Chapter 9
External scrutiny Significant developments in external scrutiny Chapter 9
Judicial decisions and decisions of administrative tribunals Chapter 2 and Chapter 9
Reports by the Auditor-General, a Parliamentary Committee or the Commonwealth Ombudsman Chapter 9
Management of human resources Assessment of effectiveness in managing and developing human resources to achieve the Authority's objectives Chapter 4
Statistics on staffing Chapter 4 and Chapter 9
Enterprise or collective agreements, determinations and common law contracts Chapter 9
Performance pay Chapter 9
Assets management Assessment of effectiveness of assets management Not applicable
Purchasing Assessment of purchasing against core policies and principles Chapter 9
Consultants Summary statement detailing consultancy arrangements and confirming that information on contracts and consultancies is available through the AusTender website. Chapter 9
Australian National Audit Office access clauses Absence of provisions in contracts allowing access by the Auditor-General Chapter 9
Exempt contracts Contracts exempt from the AusTender process Chapter 9
Financial statements   Chapter 8
Other information Occupational health and safety (section 74 of the Occupational Health and Safety Act 1991) and Schedule 2 Part 4 of the Work Health and Safety Act 2011 Chapter 9
Advertising and market research (Section 311A of the Commonwealth Electoral Act 1918) and statement on advertising campaigns Chapter 9
Ecologically sustainable development and environmental performance (Section 516A of the Environment Protection and Biodiversity Conservation Act 1999) Chapter 9
Grant programs Chapter 9
Correction of material errors in previous annual report Not applicable
Information Publication Scheme statement Chapter 9