Non-monetary assets The official trustee holds in trust on behalf of the Commonwealth non-monetary assets that are not included in AFSA`s financial statements. Assets include land and buildings, stocks and investments, motor vehicles, jewellery, antiques and collectibles. Values, Code of Conduct and Ethical Conduct Our corporate plan, customer charter and corporate agreement play a leading role in strengthening the requirements for employees to comply with apS values and the APS Code of Conduct. Values and code of conduct are embedded in our competency framework and integrated into human resources practices and recruitment, selection, onboarding, learning and performance competencies. We have made it easier for debt agreement administrators to file and pay a debt contract online, and for creditors to complete and submit a pre-filled claim and reconciliation form from a voting task list when a proposal is currently being voted on. Now in its sixth year, the PPSR plays a key role in supporting financial risk management and facilitating operations across the Australian economy. For this reason, AFSA continues to work closely with the Attorney General`s Office to ensure that the Personal Property Securities Act, 2009 (PPS Act) and the PPSR work in a way that increases business, lender and consumer confidence in the system. To succeed in our operations, we must work strategically to ensure that we consistently achieve the following high-level results: AFSA used the services of Australian Valuation Solutions (AVS) to conduct a materiality review of all non-financial assets as of June 30, 2017. It is measured annually if the carrying amount of the assets deviates materially from the fair value at the balance sheet date.

Comprehensive evaluations were conducted at least every three years, with the previous evaluation completed on June 30, 2016. AVS assured AFSA in writing that the models developed comply with AASB 13. Recovery orders Receivables resulting from confiscation orders are based on an assessment of the cash balances of the bank account expired at the end of the financial year (see note 8.1) when the amounts are identified as likely to be paid into the account of the recovered assets. Monetary Assets – Official Trustee Accounts Forfeited of Proceeds of Crime The Official Trustee holds trust funds in respect of assets that have been forfeited to the Commonwealth. Once the matter is settled, the funds will be deposited into the Seized Assets Account (“CAA”) or the Special Seized Asset Account (“CASA”). CAA and CASA are presented in Note 5.2 to the annual financial statements. The Program Council provides advice to ensure the strategic direction and success of our programs. The Board of Directors monitors project status and associated risks, makes decisions or ensures action on the issues presented, appoints project managers, ensures that project benefits are consistent with our organizational objectives and overall strategic direction, and monitors financial risks associated with projects through regular reporting. Financial assets AFSA classifies its financial assets as loans and receivables. The classification depends on the nature and intended use of the financial assets and is determined at the time of initial recognition. Financial assets are recognised and derecognised on “trading day”.

The Personal Property Securities Registry (PPSR) is a real-time online system that records data on security rights and certain prescribed personal items. This is not a registry of property or personal property, but an indicative advice for security rights. The Credit Ombudsman Service provides consumers and financial service providers with an accessible, independent and fair dispute resolution service. Free service for consumers. An Aboriginal and Torres Strait Islander employee, 56 years old, 57 managed business, 28 advertisements, 68 AFSA Enterprise Agreement 2015, 58, 61 agreements, employment, 58 analyses 2016-17, 23, 28, 31, 35 annual declaration of performance, 20 annual reports, vi APS. see Australian Public Service APS Statistical Bulletin, 66 ASIC. see Australian Securities and Certification by the responsible authority, that appropriate mechanisms are in place to prevent, detect incidents, investigate or otherwise deal with and record or report fraud that meets the specific needs of the company ii It is essential that these records are accurate and operate with a high level of availability, reflecting their importance to the Australian economy and providing support for informed business decision-making, financial risk management and support for access to finance. Primary financial statements Statement of comprehensive income statement When preparing the financial statements, the responsible authority is responsible for assessing the ability of the Australian Financial Safety Authority to continue operations, taking into account that the company`s activities will cease as a result of an administrative restructuring or for any other reason. The responsible authority shall also be responsible for disclosing, where appropriate, going concerning going concern issues and for using the basis for the maintenance of corporate governance, unless the assessment shows that this is not appropriate. In addition, it ensures that proposals for debt agreements comply with the law and leads the process of coordination with creditors with regard to debt agreements. ¢ The Department of Finance, People and Capabilities ensures our current and future financial viability and controls all procurement services….