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ITSA's corporate governance arrangements comprise the
structures and procedures by which the agency is directed and
controlled, and the mechanisms by which those who direct and control the
agency are supervised.
The Inspector-General is also required under the Bankruptcy Act to provide an annual report to the Attorney-General, for presentation to the Parliament, on the operation of the Bankruptcy Act. The Bankruptcy Act report can be found at page 88.
ITSA's accountability to the Parliament also includes scrutiny through relevant parliamentary committees including Senate Estimates hearings.
The National Managers are responsible for the delivery of ITSA's regulatory and operational services.
The National Manager Corporate Strategy and Support, located in Canberra, is responsible for providing financial, personnel, ICT, client service and administrative support to ITSA and the operations of the Personal Property Securities Register and supporting functions.
The General Counsel and Personal Property Securities Registrar is responsible for ensuring the effective operations of the Personal Property Securities Act 2009 and provision of legal services to ITSA. Details on the operation of the Personal Property Securities Act commence at page 147.
Table 21: Membership of ITSA's National Management Board in 2011-12
The National Management Board met 11 times during 2011-12. Notes of key matters are published on ITSA's intranet as required.
The Portfolio Board met 10 times in 2011-12. Notes of key matters are published on ITSA's intranet as required.
The group met 10 times during the year and published notes of key matters on the intranet as required.
The Audit Committee has three members: an independent (external) chair and two ITSA senior executives.
The Audit Committee's members for the relevant periods of 2011-12 were as follows:
Internal audits completed during 2011-12 tested both compliance and performance, including practices surrounding assets held in trust, the adequacy of ITSA's control environment and compliance with relevant legislation. Internal audit also assisted ITSA in a range of other management-initiated reviews, including a mid-project review of ITSA insolvency business-critical system replacement, assessment of compliance with section 83 of the Constitution, facilitation of ITSA's fraud risk assessment and a refresh of ITSA's Fraud Control Plan.
During 2011-12, each of ITSA's operational business lines had detailed management assurance programs with monthly management reports to address or minimise risks within their areas of business. In addition, the National Management Board has embedded risk management into the organisation's revised strategic and operational planning process. The National Management Board and Business Solutions Planning Group reviewed, added to and updated the procedures for managing organisational risks. Review of ITSA's risk register is a standing item at National Management Board and Business Solutions Planning Group meetings each quarter.
ITSA's Fraud Control Plan was refreshed in 2011-12 in accordance with the Commonwealth Fraud Control Guidelines. The plan is based on a comprehensive risk assessment process which assesses both inherent fraud risk and associated mitigation strategies. ITSA's operations are aligned with the requirements of the Commonwealth Fraud Control Guidelines.
Minister and Parliament
ITSA's Chief Executive reports to the Attorney-General and, in accordance with the Public Service Act 1999 and the Financial Management and Accountability Act 1997, assists the Attorney-General to fulfil her accountability obligations to the Parliament. In this annual report the Chief Executive accounts for ITSA's performance and use of resources.The Inspector-General is also required under the Bankruptcy Act to provide an annual report to the Attorney-General, for presentation to the Parliament, on the operation of the Bankruptcy Act. The Bankruptcy Act report can be found at page 88.
ITSA's accountability to the Parliament also includes scrutiny through relevant parliamentary committees including Senate Estimates hearings.
Senior executive roles and responsibilities
The Chief Executive is responsible for managing and leading ITSA in accordance with the Public Service Act 1999, the Financial Management and Accountability Act 1997 and other legislation. As the Inspector-General in Bankruptcy, the Chief Executive is also responsible for the general administration of the Bankruptcy Act.The National Managers are responsible for the delivery of ITSA's regulatory and operational services.
The National Manager Corporate Strategy and Support, located in Canberra, is responsible for providing financial, personnel, ICT, client service and administrative support to ITSA and the operations of the Personal Property Securities Register and supporting functions.
The General Counsel and Personal Property Securities Registrar is responsible for ensuring the effective operations of the Personal Property Securities Act 2009 and provision of legal services to ITSA. Details on the operation of the Personal Property Securities Act commence at page 147.
Boards and committees
National Management Board
The National Management Board assists the Chief Executive in managing the agency and discharging the responsibilities of the Inspector-General, Official Receiver and Official Trustee. The board sets ITSA's strategic direction, determines appropriate policies and monitors performance.Table 21: Membership of ITSA's National Management Board in 2011-12
| Role | Name | Duration |
|---|---|---|
| Chief Executive and Inspector-General in Bankruptcy | Veronique Ingram | July 2011 - June 2012 |
| National Manager Business Services (formerly National Manager Information and Registries) | Andrew Robinson | July 2011 - June 2012 |
| National Manager Regulation and Enforcement | Adam Toma | July 2011 - June 2012 |
| National Manager Corporate Strategy and Support | Gavin McCosker | July 2011 - June 2012 |
| Acting National Manager Trustee Services | Cheryl Cullen | July 2011 - February 2012 |
| General Counsel and Personal Property Securities Registrar | David Bergman | November 2011 - June 2012 |
| Acting General Manager Operations | Dipen Mitra | December 2011 - June 2012 |
Portfolio Board
The Portfolio Board is chaired by ITSA's Chief Executive and in addition to the members of the National Management Board (listed above) is advised by an independent expert, ITSA's Chief Finance Officer and Chief Information Officer. The Portfolio Board continued its oversight of ITSA's strategic business change initiatives and investment decisions in accordance with the government's recommended Portfolio, Program and Project Management Maturity Model (P3M3).The Portfolio Board met 10 times in 2011-12. Notes of key matters are published on ITSA's intranet as required.
Business Solutions Planning Group
The Business Solutions Planning Group includes key operational managers from across the agency and has a specific focus on the development, monitoring and management of ITSA's Operational Plan and provides governance oversight to ITSA's ICT operations through performing ICT Steering Committee functions.The group met 10 times during the year and published notes of key matters on the intranet as required.
Audit Committee
ITSA's Audit Committee advises the Chief Executive and the National Management Board on a range of audit and financial practice matters. In addition to considering the results of the various internal and external audits and, importantly, the action subsequently taken to respond to and implement auditors' recommendations, the committee also monitors ITSA's application of and compliance with systems and frameworks for ensuring high levels of internal controls, financial reporting, risk management and fraud control.The Audit Committee has three members: an independent (external) chair and two ITSA senior executives.
The Audit Committee's members for the relevant periods of 2011-12 were as follows:
- Peter McQuoid (chair, July 2011 - June 2012)
- Adam Toma (member, July - December 2011)
- Andrew Robinson (member, July 2011 - June 2012)
- Cheryl Cullen (member, January - June 2012)
Internal audits completed during 2011-12 tested both compliance and performance, including practices surrounding assets held in trust, the adequacy of ITSA's control environment and compliance with relevant legislation. Internal audit also assisted ITSA in a range of other management-initiated reviews, including a mid-project review of ITSA insolvency business-critical system replacement, assessment of compliance with section 83 of the Constitution, facilitation of ITSA's fraud risk assessment and a refresh of ITSA's Fraud Control Plan.
Employee consultative committees
Information on initiatives conducted during 2011-12 is provided under ‘Management of ITSA's people' (page 72).Corporate and operational plans
ITSA maintains an integrated planning process, which is initiated at the annual planning workshop early in each calendar year. There are linkages between ITSA's Strategic Plan, through operational plans to individual employee performance plans. National priorities and objectives and performance measures cascade down to business line plans and, ultimately, to individual employee performance and development plans. This assists employees' understanding of the expectations for their role and how their role contributes to the achievement of ITSA's overall national strategies.Values, conduct and ethical standards
ITSA's strategic and operational plans and enterprise agreement play a lead role in reinforcing the requirement for ITSA employees to uphold the Australian Public Service (APS) Values and comply with the APS Code of Conduct. Information on initiatives conducted during 2010-11 is provided under ‘Management of ITSA's people' (page 72).Managing risk and fraud
Risk management is an integral part of ITSA's planning and management processes at all levels. ITSA's Risk Management Plan sets out a systematic process and tools to help identify, analyse, assess, manage and monitor risks to ITSA in achieving its objectives.During 2011-12, each of ITSA's operational business lines had detailed management assurance programs with monthly management reports to address or minimise risks within their areas of business. In addition, the National Management Board has embedded risk management into the organisation's revised strategic and operational planning process. The National Management Board and Business Solutions Planning Group reviewed, added to and updated the procedures for managing organisational risks. Review of ITSA's risk register is a standing item at National Management Board and Business Solutions Planning Group meetings each quarter.
ITSA's Fraud Control Plan was refreshed in 2011-12 in accordance with the Commonwealth Fraud Control Guidelines. The plan is based on a comprehensive risk assessment process which assesses both inherent fraud risk and associated mitigation strategies. ITSA's operations are aligned with the requirements of the Commonwealth Fraud Control Guidelines.
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