Our non-financial performance measures are detailed in both our corporate plan and Portfolio Budget Statements. They include several measures that meet our performance reporting obligations under the Regulator Performance Framework.2
We produce quarterly internal reports on our non-financial performance. These reports mirror the requirements of the annual statement of performance, and are presented at the next Board Audit Committee meeting following the end of the respective quarter.
Financial performance is reported separately through monthly internal financial reports to management, and to every Board meeting. Our performance reporting culminates in the publication of our annual report, inclusive of the financial statements and annual performance statements, and our Regulator Performance Framework externally-validated self-assessment report.
We have several other mechanisms that assist our Board and management to monitor performance in a wider context:
2 The Commonwealth Regulator Performance Framework encourages regulators to undertake their functions with the minimum impact necessary to achieve regulatory objectives and to effect positive ongoing and lasting cultural change. The framework consists of six outcomes-based key performance indicators: 1. reducing regulatory burden; 2. effective communications; 3. risk-based and proportionate approaches; 4. efficient and coordinated monitoring; 5. transparency; 6. continuous improvement.
3 Our management system incorporates certification to three quality standards: AS/NZ AS/NZS ISO 9001: 2008 Quality Management Systems; AS/NZS 4801: 2001 Occupational Safety and Health Management Systems; and AS/NZS ISO 14001: 2004 Environmental Management Systems.