What is an annual report?

An annual report is a document prepared each year by the directors of a Commonwealth company. The primary purpose of annual reports of companies is accountability.

Annual reports serve to inform Parliament (through the responsible Minister), other stakeholders, educational and research institutions, the media and the general public about the performance of companies in relation to activities undertaken. Annual reports are also a key reference document and a document for internal management. They form a critical part of the historical record. Annual reports are also a key accountability mechanism of the Commonwealth performance framework, through the reporting of the actual performance of companies in the annual report against the planned performance information outlined in their corporate plans. The annual report must be presented to Parliament by the responsible Minister.

Annual report principles

 

Annual reports for a company should:

 

Annual report principles icons

Be written in plain English and provide sufficient information and analysis for the Parliament to make a fully informed judgment on company performance.
Align with the overall Commonwealth resource management framework, Public Governance, Performance and Accountability Act 2013 (PGPA Act), Public Governance, Performance and Accountability Rule 2014 (PGPA Rule) and the Commonwealth performance framework.
Be developed by taking into account merit reporting - the relative benefits and costs of reporting.
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© Department of Finance 08/06/2023