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 .

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 .

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for the conduct of an election, or has decided not to make arrangements, or the prescribed information has been withdrawn.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%