Go to top of page

Financial accountability and compliance

ACIAR, as a statutory authority, is subject to the policy guidelines determined by the Australian Government from time to time regarding accountability, reporting, review and general operations.

The agency is accountable through the Minister to Parliament. It is also subject to government financial and accounting policies and procedures. Staff members are employed under the Public Service Act 1999. Within these constraints, ACIAR has the power to do all things it considers appropriate for the performance of its statutory functions.

Authority

ACIAR derives its authority from the Australian Centre for International Agricultural Research Act 1982 (ACIAR Act). Financial powers and duties are also drawn from the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and subordinate Rules, and from the Public Service Act 1999 in the case of staffing.

Accounting practices

ACIAR follows accounting practices in accordance with the PGPA Act, other related legislation, and recognised accounting standards. Financial statements are presented in accrual accounting format in Part 4, Financial Statements, of this annual report. The financial statements have been audited by the Australian National Audit Office.

Insurances

Primary corporate insurance for ACIAR is provided through Comcover, as the manager of the Commonwealth’s insurable risks. Comcover coverage includes general and products liability professional indemnity, CEO and officers liability, property loss and damage, personal accident and official travel. The insurance premium for 2018–19 was $59,401 (excluding GST). The premium paid for 2017–18 was $59,539 (excluding GST).