Skip Ribbon Commands
Skip to main content
Sign In

Asset management

​​Our agency's asset management framework encompasses several elements to ensure we strategically invest in and maintain assets necessary for effective delivery of our 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 our agency
  • asset management policies that articulate sound asset management principles and responsibilities, and
  • annual reviews of the asset register including stocktakes and impairment testing.

We manage current and non-current assets in accordance with the Chief Executive Instructions and relevant accounting standards. During 2015–16, we undertook the following asset related activities:

  • a full stocktake of our asset base and engaged an independent expert to conduct a valuation of our 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 our 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 Chapter 6 from page 119.

Documents on this pageDocuments on this page

Was this page useful?

LEAVE FEEDBACK
preload-image-only preload-image-only preload-image-only preload-image-only preload-image-only preload-image-only preload-image-only preload-image-only preload-image-only