AIMS has a comprehensive system of financial reporting practices that provide compliance, disclosure and accountability of its activities.
Role and Legislation
AIMS was established by the Australian Institute of Marine Science Act 1972 (AIMS Act) and is a corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013 (PGPA Act).
The Institute’s functions and powers are set out in the AIMS Act (see Appendix C). AIMS has two main roles under its governing legislation:
- carry out research and development in relation to
- marine science and marine technology
- the application and use of marine science and marine technology
- encourage and facilitate the non-commercial and commercial application of the results arising from such activities.
The PGPA Act sets out reporting, accountability and other requirements relating to our operations, management and governance. Section 39 of the PGPA Act requires corporate Commonwealth entities to prepare annual performance statements and to include them in an annual report to the Australian Parliament. Part 2-3, Division 3A, Subdivision B of the Public Governance, Performance and Accountability Rule 2014 sets out the requirements for annual reports to be produced by corporate Commonwealth entities in accordance with s. 46 of the PGPA Act. A list of annual report requirements provides details of how this annual report meets those requirements.
This year, there was one minister with responsibility for matters relating to AIMS: The Hon. Karen Andrews MP, Minister for Industry, Science and Technology (28 August 2018 to 30 June 2020).
General Policies of the Australian Government
Under s. 22 of the PGPA Act, the Finance Minister may make a government policy order that specifies a policy of the Australian Government that is to apply in relation to one or more corporate Commonwealth entities. No ministerial directions were received by the AIMS Council during 2019-20.
AIMS did not form new companies, trusts or partnerships during 2019-20. AIMS is participating in the formation of an unincorporated joint venture for the Reef Restoration and Adaption Program component of the Reef Trust Partnership. It is planned that AIMS will become the managing entity for this program of work.