The Australian Financial Security Authority (AFSA) Annual Report 2019–20 has been prepared in accordance with the requirements for annual reports as prescribed in sections 17AA to 17AJ of the Public Governance, Performance and Accountability Rule 2014.
Our Chief Executive, as AFSA’s accountable authority, reports to the Attorney-General and, in accordance with the Public Service Act 1999 and the Public Governance, Performance and Accountability Act 2013, assists the Attorney-General to fulfil his or her accountability obligations to the parliament. In this annual report, our Chief Executive accounts for AFSA’s performance and use of resources.
The Inspector-General in Bankruptcy is required under section 12(1) of the Bankruptcy Act 1966 (Bankruptcy Act) to provide an annual report to the Attorney-General, for presentation to the parliament, on the operation of the Bankruptcy Act.
The Registrar of Personal Property Securities is required under section 192 of the Personal Property Securities Act 2009 (PPS Act) to provide an annual report to the Attorney-General, for presentation to the parliament, on the operation of the PPS Act.
Reporting on the Bankruptcy Act and the PPS Act is integrated throughout this report.
This annual report is divided into six sections:
Section 1—Overview comprises the Chief Executive’s review, including our priorities for 2020–21; a summary of our major achievements during the reporting year; and an overview of the agency, including our outcome and program structure.
Section 2—Report on performance outlines our performance framework, and contains our annual performance statements and report on financial performance.
Section 3—Legislative amendments and administrative reporting contains information on amendments to the Bankruptcy Act and PPS Act and administrative reporting required under these Acts.
Section 4—Management and accountability contains a report on our management and accountability processes, including corporate governance, external scrutiny, managing our human resources, asset management, purchasing, and other mandatory information.
Section 5—Financial statements contains our audited financial statements for 2019–20.
Section 6—Appendixes contains the appendixes, which provide mandatory reporting information on various topics, including workforce statistics and executive remuneration.
At the end of the report, we provide lists of abbreviations and acronyms, figures and tables, and requirements used to compile this report, as well as an index.