Information Publication Scheme Plan

Information Publication Scheme Plan

This page contains:

• Introduction
• Purpose
• Objectives
• Establishing and administering AASB's IPS entry
• Structure of the IPS
• Information required to be published under the IPS
• Other information to be published
• IPS Compliance Review

Introduction

The Australian Accounting Standards Board (AASB) is an agency subject to the Freedom of Information Act 1982 (FOI Act) and is required to comply with the Information Publication Scheme (IPS) requirements in Part II of that Act. This plan sets out how we propose to do so. It is prepared in accordance with section 8(1) of the FOI Act.

The AASB is an Australian Government agency under the Australian Securities and Investments Commission Act 2001. Under that Act, the statutory functions of the AASB are:

• to develop a conceptual framework for the purpose of evaluating proposed standards;
• to make accounting standards under section 334 of the Corporations Act 2001;
• to formulate accounting standards for other purposes;
• to participate in and contribute to the development of a single set of accounting standards for worldwide use;
• and to advance and promote the main objects of Part 12 of the ASIC Act, which include reducing the cost of capital, enabling Australian entities to compete effectively overseas and maintaining investor confidence in the Australian economy.

Purpose

AASB is required to prepare this plan by section 8(1) of the FOI Act. Its purpose is to show what information we propose to publish, how and to whom the information will be published, and how we will otherwise comply with the IPS requirements.

Objectives

The plan outlines the mechanisms and procedures which AASB will put into place in relation to the:

• management of information holdings relevant to the IPS
• proactive identification and publication of all information required to be published including this plan
• proactive identification and publication of optional information where appropriate
• review of the information published on a regular basis so as to ensure the information published under the IPS is accurate, current and complete
• compliance with the online content format as set out in the Web Content Accessibility Guidelines
• measurement of AASB's successful implementation of the IPS.

Establishing and administering AASB's IPS entry

AASB's Finance Manager is responsible for leading our work on administering our IPS. That work is being carried out by our Freedom of Information (FOI) team with the assistance of our Web Publishing team. All relevant AASB business units are consulted as required.

AASB has always published large amounts of information of interest to our stakeholders and the public at large. We have done so under relevant legislation. 

AASB took the following steps to establish its IPS entry:

• we reviewed the information that we have previously published on our website
• we conducted an audit of the other information we hold to determine what additional information should be published
• we issued guidance to relevant entity departments on maintaining the accuracy, currency and completeness of information published under the IPS
• we established a FOI Disclosure Log on AASB's website that details the documents that have been released by AASB in response to FOI requests
• The information described in AASB's disclosure log is available for public access in the following ways:
  • information published in response to FOI requests AASB received from 1 May 2011 to 31 December 2022 is available on request
  • information published in response to FOI requests AASB received from 1 January 2023 is available for direct download from the FOI disclosure log.

AASB will review compliance with the IPS requirements on an annual basis.

Where information is made available under the IPS other than via our website, we do not intend to charge for obtaining a copy where the information requested is less than 50 pages. Where it is over 50 pages, minimal charges may be levied on a cost recovery basis whether the request is for the material in hardcopy or in electronic form. This may include copying and postal charges where relevant.

Structure of the IPS

AASB will, to the extent practicable, publish information under the IPS on its website. In doing so, we adopt the organisation of information on that website, and co- locate it with information of a similar kind. For example, any additional operational information relating to financial services regulation will be co located with existing information about financial services.

Should it be necessary to add new kinds of information because of the IPS, we will locate that information on our website in a way that is consistent with its existing layout.

AASB's website already includes features aimed at ensuring that the information available on it is discoverable, understandable and machine readable. These features will be equally applicable to information added under the IPS. For example:

• there is a site map, and a search function and topic overview pages on our website; and
• much of the information on the website is in a format that can be searched, copied and transformed.

In addition, our website contains information specifically dealing with FOI. It includes links to:

• information about making requests under the FOI Act, and
• information required to be published under the IPS including this plan.

AASB continues to work towards ensuring our website is in compliance with the W3C Web Content Accessibility Guidelines (WCAG 2.1) in accordance with the requirements of that Strategy. For more information, see our Accessibility page.

Information required to be published under the IPS

We will publish this plan. We will also publish the other information required to the published under s 8(2) of the FOI Act.

Other information to be published

AASB publishes a large amount of information of a kind that is not required to be published under the IPS and will continue to do so. This includes information relevant to our key stakeholders and information of a general research and educative nature. 

IPS Compliance Review

AASB will review its information holdings on an annual basis to ensure that what is published is current, accurate and complete. We will also review this plan annually and if necessary, update it to ensure that it meets our information management requirements and any applicable guidance issued by the Office of the Information Commissioner. Between the annual reviews we will keep abreast of changes to the guidelines of the Office of the Information Commissioner to ensure that AASB responds promptly to any developments.

In conducting our reviews, we will also have regard to:

• any feedback which we receive about the information we have published, and
• the practices of other agencies.