Challenges of the Reduced Disclosure Reporting Regime in Australian Public Sector

Ongoing dissatisfaction with the Reduced Disclosure Regime (RDR) in Australian public sector reporting has led to issues such as lack of user-centricity, neutrality concerns, and complexity in government financial reporting. The framework's impact on government resourcing, expenditure history, and decision-making processes is under scrutiny. Legislative and regulatory frameworks, along with theoretical perspectives like New Public Management and Agency Theory, play crucial roles in shaping public sector reporting practices.

• Australian public sector
• Reporting regime
• Disclosure challenges
• Government finance
• Regulatory frameworks

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1. Impact of Reduced Disclosure Reporting Regime Australian Evidence Robyn Pilcher and David Gilchrist

2. Background Result of ongoing dissatisfaction with regard to sector neutral / transaction neutral framework Reduced Disclosure Regime Commenced 1 July 2013 Could have early adopted No Australian Jurisdictions have adopted the RDR Tier Arrangement Consists of Lines Through Standards: AASB 1053: Tiers 2010-2: Standards

3. Problems Whole of Government Reporting Place of Micro-entities Differences in Jurisdictions

4. Ongoing Issues Lack of User Centricity Neutrality of Framework Place of IASB and PSASB Decision Making Focus: Budget Process Half Yearly review Process Government Finance Statistics Reporting AASBs Financial Allocative Decision Focus

5. Public Sector Resourcing Expenditure History Budget Process (Political) Mid Year Review (Political) End of Year Accounts

6. Theoretical Framework New Public Management: Introduced in Europe in 1980s Closing the gap between Public Sector and Commercial styles Agency Theory: Resurgence in academic circles BUT who are the principals and who are the agents? Place of Government Place of Parliament (Parliamentary Sovereignty Theory) Place of the Community An aside Integrity Agencies Pragmatic Washminster System

7. Regulatory Framework Treasurer s Instructions Certification Requirements Personal Responsibility Australian Accounting Standards Health Department Guidelines and Policies: Delegations Approvals Commonwealth Reporting Requirements

8. Legislative Framework Financial Management Act 2006 Auditor General s Act 2006 Corruption and Crime Commission Act 2003

9. Audit & Accountability Public Sector Audit Process: Opinions: Financial Opinion Key Performance Indicators Controls

10. Methodology Document Review Interviews key WA Treasury Staff Interviews key Office of the Auditor General staff Reconciliation of the Treasury Models against the RDR requirements

11. Findings Users remain undefined What is removed is not relevant to PS Whole of Government Reporting Agency issues Qualitative Materiality in Public Sector Treasury Models True Savings?

12. Ongoing Research Heads of Treasury Reports I and II WA Treasury Project Local government Great Western Four Public Sector Group Bath, Cardiff, Exeter and Bristol

13. Future Arrangements? Public Sector RDR (PS-RDR) Third Tier of RDR (RDR3) Enhanced Framework Public Sector Standards