APRA is accountable to the Australian Parliament. We work closely with government and regularly report on our activities, key decisions and regulatory outcomes through various channels. Under enabling legislation, the APRA Members, supported by a range of governance committees, are collectively responsible for APRA’s operations and performance.
APRA is governed by an executive group of APRA Members (Executive Board) who are collectively responsible and accountable for APRA’s operation and performance. The APRA Chair has additional specific accountabilities as the accountable authority under the Public Governance, Performance and Accountability Act 2013.
APRA Members are appointed by the Governor-General, on the advice of the Australian Government, for terms of up to five years. The APRA Act provides that between three and five APRA Members can be appointed at any point in time.
The Executive Board is supported by six Executive Directors <anchor link to “Executive biographies” page> and a range of governance committees, including the Audit and Risk Committee, which comprises three independent committee members.
All current enabling legislation that apply to APRA's activities can be found below.
From time to time, the government issues APRA with a Statement of Expectations and APRA responds with a Statement of Intent. The most recent release was in June 2023.