Release of a Guide for corporate Commonwealth entities on the role of audit committees
Following recent consultation with corporate Commonwealth entities (CCEs) on the draft guide, ‘A guide for corporate Commonwealth entities on the role of audit committees’, the final version has been released on the Finance website at RMG 202: Audit committees. Thank you to those CCEs that have informed the development of this guide and provided their comments during the consultation process. Minor changes were also made to ‘A guide for non-corporate Commonwealth entities on the role of audit committees’ (specifically a change to the diagram and its description in the performance reporting section - p. 13-14). The updated guide is also available on Finance website at RMG 202: Audit committees.
2018 PGPA CFO Survey is out
On Thursday 6 December, Finance released the 2018 PGPA CFO Survey (managed by Piazza Research). An invitation to participate in the survey was sent to the CFOs of all Commonwealth entities and Commonwealth companies. The survey provides the opportunity to give feedback on the operation of the Public Governance, Performance and Accountability Act 2013. The responses will help to inform the future focus of the PGPA framework and highlight any matters that may require attention. CFOs may consult across their entities to provide informed responses. The survey closes COB Friday 21 December.
Evaluators and the Enhanced Commonwealth Performance Framework paper
Finance has authored the paper Evaluators and the Enhanced Commonwealth Performance Framework to encourage the evaluation community to play and active role in the Commonwealth performance framework. Whilst the paper is focussed on the evaluation community, it provides others with an understanding of the tools and skills that evaluators can bring to the development and assessment of the performance information entities provide in their corporate plans, Portfolio Budget Statements and annual performance statements. The paper recently won the Rosalind Hurworth Prize for the best evaluation paper from the Australasian Evaluation Society (AES) in the 2018 Awards for Excellence in Evaluation. A copy of the paper is available on the Finance website.
Digital Annual Reporting Tool – demonstrations now available!
Over 2017-18 Finance has completed a pilot project to demonstrate the viability and benefits of digitalising Commonwealth annual reporting. The pilot has seen 15 Commonwealth entities contribute to or produce their 2017-18 annual reports using a web based document production tool and publish them to a central website. For entities, the Digital annual reporting solution offers the potential to enhance annual report production capability and efficiency. For users of annual report information, this initiative has the benefit of publishing all annual reporting information on a single accessible website, making this information more discoverable, searchable, comparable and shareable than ever before.
Finance has recently demonstrated the Digital Annual Reporting Pilot to participating entities and key Parliamentary representatives, receiving a positive response. We are now seeking to demonstrate and discuss the concept further with all Commonwealth entities and Companies. The Digital annual report team will begin contacting and visiting entities in late December 2018.
Should your entity like to discuss Digital Annual Reporting and receive a demonstration of the solution, please contact: DigitalAnnualReportProject@finance.gov.au.
2018 Comcover Education Program
Comcover is the Australian Government’s self-managed insurance fund, providing insurance and risk management services to Commonwealth entities since 1998.
Comcover Learning Centre
Comcover’s learning programs are available free of charge to Commonwealth officials via the Comcover Learning Centre.
To support you in understanding basic risk management concepts and Commonwealth best practice risk management strategies, we are pleased to announce the following new eLearning courses that are now available in the Comcover Learning Centre:
- Introduction to Risk in the Commonwealth provides you with a thorough foundation for understanding risk and its management in the Commonwealth public sector.
- Introduction to Comcover explains how Comcover helps entities and staff manage risks through:
- the Comcover Fund, which protects against the financial impact of coverable losses; and
- risk and educations services, including eLearning, face-to-face workshops, and events.
Does your day-to-day work involve engaging with risk? Do you undertake procurement? To understand how risk informed decision making can be applied to practical examples;
Managing Indemnity Risk is the course for you. The course is designed to help you better understand indemnities and how to reduce the likelihood and consequences of the risks that they present.
If you are looking for more, or your job requires you to design, implement and embed risk management in your entity, the Specialist pathway in the Comcover Learning Centre has two courses for you:
- Embedding Risk Management into an organisation’s DNA is a comprehensive program comprising in and out-of-class learning opportunities to help you build your risk management capabilities.
- Liaising with Comcover provides extensive information to help you provide risk management advice and support in your entity. Designed for officials who are, or will become authorised Comcover Liaison personnel, the course will provide opportunities to learn more about the roles of the Comcover Insurance and Risk contacts in your entity and how Comcover can help influence positive outcomes through effective and efficient management of risks.
All enquiries contact Comcover on 1800 651 540 or Comcover@comcover.com.au.
COMING SOON - Redeveloped PGPA eLearning Modules
Finance has recently redeveloped PGPA eLearning modules to help stakeholders better understand the PGPA Act and Rule.
To support the introduction of the PGPA Act in 2013, eLearning modules, along with guidance material and other products were developed. As the Commonwealth resource management framework has matured overtime, the eLearning modules have been redeveloped to better reflect the maturing framework. The modules have a new look and are designed for ease of use, including a greater level of user engagement. It is anticipated that the redeveloped eLearning modules will be available on the Finance website in January 2019.
Finally, for 2018, we wish you all a safe and relaxing break over the holiday period.