Copy of Audited Accounts

Phillip Sweeney made this Freedom of Information request to Australian Prudential Regulation Authority

Waiting for an internal review by Australian Prudential Regulation Authority of their handling of this request.

From: Phillip Sweeney

Delivered

Dear Australian Prudential Regulation Authority,

I am lodging a request for document pursuant to the Freedom of Information Act 1982.

I refer to a previous FOI Request for an earlier version of the document I am seeking.

In a letter dated 16 January 2012 your Mr David Sullivan released a copy of the audited accounts and auditor's report for the year ending 30 June 2011 for the AusBev Superannuation Fund (R1004830)(ABN 60 171 679 448)

In paragraph 12 Mr Sullivan states:
"I have reached the conclusion that none of the exemptions under the FOI Act apply in relation to the documents. Therefore I have decided to grant access to all the documents in the Schedule".

I have been advised that this fund was wound-up on 20 January 2014. However audited accounts must still be produced for the period 1 July 2013 to 20 January 2014.

I wish to confirm that APRA has a copy of the audited accounts that would confirm the wind-up has taken place as claimed.

Yours faithfully,

Phillip Sweeney

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From: Freedom of Information
Australian Prudential Regulation Authority


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Dear Mr Sweeney

 

Please find attached correspondence regarding your request for information
under the Freedom of Information Act 1982, received by APRA on 22 December
2014.

If you have any questions please do not hesitate to contact me.

 

Regards

 

Hannah Cole

FOI Officer— Governance, Communication & Information
Australian Prudential Regulation Authority

T 02 9210 3156 | F 02 9210 3430
E [1][APRA request email] | W [2]www.apra.gov.au
400 George St (Level 26), Sydney, NSW 2000

[3]http://www.apra.gov.au/PublishingImages/...

 

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From: Phillip Sweeney

Delivered

Dear Australian Prudential Regulation Authority,

Please pass this on to the person who conducts Freedom of Information reviews.

I am writing to request an internal review of Australian Prudential Regulation Authority's handling of my FOI request 'Copy of Audited Accounts'.

In the FOI Response APRA is claiming that the document requested is a "public access" document available from the Trustee of this fund.
However the purported Trustee, CCSL Ltd, has "abandoned the trust" and is not responding to letters that I have sent and other members of this fund have sent requesting copies of the "Audited Accounts" even though it is a criminal offence to wilfully conceal a copy of the audited accounts from persons with a beneficial interest in the trust such as the FOI Applicant.

It is also a Breach of the conditions imposed on the RSE Licence issued by APRA to conceal the audited accounts from a member or a beneficiary of the superannuation trust.

In previous years APRA has released a copy of the audited accounts (I refer to the letter dated 16 January 2012 from David Sullivan who released a copy of the audited accounts for the year ending 30 June 2011).

APRA has two options:
(i) Release a copy of the audited accounts under the FOI Act, or
(ii) Ensure the purported Trustee, CCSL Ltd, complies with a condition imposed on the RSE Licence issued by APRA and provide a copy of the audited accounts pursuant to subsection 1017C(5) of the Corporations Act 2001 and associated regulations.

It is a criminal offence for a trustee to contravene subsection 1017C(5) of the Corporations Act 2001.

This superannuation trust was purportedly "wound-up" on the 20 January 2014, therefore audited accounts for the year ending 30 June 2014 are especially important.

APRA has identified the wind-up of funds as a potential opportunity for fraud. {Refer to Attachment A Item (1)(g) in the Draft Prudential Practice Guide SPG Fraud Risk Management (SPG 223)

A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.righttoknow.org.au/request/c...

Yours faithfully,

Phillip Sweeney

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From: Freedom of Information
Australian Prudential Regulation Authority


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Dear Mr Sweeney

Please see attached correspondence from APRA in relation to this request.

Regards

Mathew Fussell
APRAinfo Manager — Governance, Communication & Information
Australian Prudential Regulation Authority

T 02 9210 3124 | F 02 9210 3430
E [email address] | W www.apra.gov.au
400 George St (Level 26), Sydney, NSW 2000

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From: Phillip Sweeney

Delivered

Dear Freedom of Information,

Here is an example of inconsistent application of the FOI Act and the misrepresentation of the law by a government agency.

APRA has released identical documents in the past that relate to a different accounting period.

Also APRA quotes a Regulation that does not apply to persons who have a "beneficial interest" in a regulated superannuation fund.

The relevant provision is subsection 1017C(5) of the Corporations Act 2001 and it is a CRIMINAL OFFENCE if a trustee does not comply with this provision.

Why no mention of this provision in the APRA decision letter?

The future of the Office of the Australian Information Commissioner is still uncertain, yet no mention of this in the APRA decision letter.

Yours sincerely,

Phillip Sweeney

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