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Service standards

The ROC aims to ensure that financial reports and annual returns are assessed, and elections and auditor registrations are finalised, in a timely manner. In 2016–17 all timeliness targets were met or exceeded. In particular, the target for the assessment of annual reports has significantly improved over recent years.

Financial reports, annual returns and elections were previously functions of the FWC and transferred to the ROC on 1 May 2017. Performance for these activities is reported for the full 12 months. Performance by the FWC and the ROC in 2016–17 is compared against the previous two years performance by the FWC. The registration of auditors is a new function, not previously performed by the FWC. This activity is reported for the two month period of May–June 2017 only.

Financial reports

The service standard for this is 95% of financial reports required to be lodged under the RO Act are assessed for compliance within 40 working days.

A financial report assessed for compliance means that the financial report has been reviewed against a primary review checklist or an advanced review checklist. The primary and advanced review checklists are published on the ROC website external-icon.png.

Table 14: Performance of financial reports function against timeliness targets
Year and agency Number assessed Number within KPI Result
2016–17 FWC/ROC 375 375 100%
2015–16 FWC 391 391 100%
2014–15 FWC 392 377 96%

Annual returns

The service standard for this is 95% of annual returns are assessed for compliance within 40 working days.

An annual return assessed for compliance means that an annual return of information lodged by an organisation has been assessed against the checklist for compliance with the RO Act. The annual return checklist is published on the ROC website external-icon.png.

Table 15: Performance of annual returns function against timeliness targets
Year and agency Number finalised Number within KPI Result
2016–17 FWC/ROC 109 109 100%
2015–16 FWC 113 109 96%
2014–15 FWC 101 90 89%

Elections

The service standard for this is 95% of prescribed information for elections are finalised within 40 working days.

Finalisation of prescribed information for elections means that the Commissioner (or delegate) has made arrangements for the conduct of an election, or has decided not to make arrangements, or the prescribed information has been withdrawn.

Table 16: Performance of elections function against timeliness targets
Year and agency Number finalised Number within KPI Result
2016–17 FWC/ROC 223 221 99%
2015–16 FWC 214 211 98%
2014–15 FWC 234 227 97%

Registration of auditors

The service standard for this is 95% of applications for registration by auditors are finalised within 40 working days.

Finalisation of applications for registration by auditors means that the Commissioner (or delegate) has registered an auditor, or has decided not to register an auditor, or the application has been withdrawn.

Table 17: Performance of Registration of auditors function against timeliness targets
Year and agency Number finalised Number within KPI Result
2016–17 ROC 188 188 100%