Standing Committee on Economics, Finance and Public
Media release, 21 April 1997
COMMONWEALTH GUARANTEES AND INDEMNITIES
The adequacy of financial management of statutory authorities will be
examined by the Financial Institutions and Public Administration Committee
at a public hearing in Melbourne next week.
According to the Committee Chairman, Mr David Hawker MP, Wool International
and the Australian Wheat Board will be giving evidence on issues raised
in a report by the Australian National Audit Office (ANAO) regarding Commonwealth
guarantees, indemnities and letters of comfort.
In its submission to the Committee, Wool International commented that
"the Commonwealth needs to re-examine the manner in which its activities
are structured and controlled, and the manner in which support through
guarantees is provided."
"Clearly the statutory authorities have some concerns about Commonwealth
guarantees," said Mr Hawker.
"The Committee has already sought advice from the Department of Finance
on these issues. Wool International and the Wheat Board will now be able
to explain their views to the Committee."
"The broader issue of the accountability of statutory authorities will
also be relevant to the Committee's inquiry," Mr Hawker concluded.
18 April 1997
Further information: David Hawker MP (Chairman) (06 277 4100)
Christopher Paterson (Secretary) (06 277 4587)
Public Hearing Program
Monday 21 April 1997 9.30 - 11.30am
9.30 am Wool International
10:30 am Australian Wheat Board
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