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Assets management

The Clean Energy Regulator’s asset management framework encompasses several elements to ensure the agency strategically invests in and maintains assets necessary for effective delivery of its outcome. The framework includes:

  • internal governance through the internal budget process and Project Portfolio Board to ensure investment decisions regarding assets are subject to sound investment principles and can deliver benefits to the agency
  • asset management policies that articulate sound asset management principles responsibilities, and
  • annual reviews of the asset register including stocktakes and impairment testing.

The Clean Energy Regulator manages current and non-current assets in accordance with the Chief Executive Instructions and relevant accounting standards. During 2014–15, the Clean Energy Regulator undertook the following asset related activities:

  • a full stocktake of its asset base and engaged an independent expert to conduct a valuation of the agency’s assets (excluding intangibles) in accordance with the requirements of Australian Accounting Standards Board (AASB) 13 Fair Value Measurement.
  • asset impairment testing and review of useful life (‘re-life’ assessment) of the Clean Energy Regulator’s assets, including information and communications technology (ICT) and non-ICT property, plant and equipment, intangibles and software Assets Under Construction, as required by the following Australian Accounting Standards:
    • AASB 116 Property, Plant and Equipment
    • AASB 136 Impairment of Assets, and
    • AASB 138 Intangible Assets.

The result of these activities is reported in the financial statements in Section 6 from page 103.

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