Independent Education Union of Australia NSW/ACT Branch

Summary of the financial statements for year ended 31 December 2016

Operating Report

The Branch Executive (Committee of Management) of the Independent Education Union of Australia New South Wales/Australian Capital Territory Branch presents its report for the year ended 31 December 2016.

Review of Principal Activities and Results

The principal activity of the Branch during the year was that of a branch of a registered union of employees. Those activities included, but were not limited to:

The provision of services to members;

The representation of members before Fair Work Australia on award matters and disputes; and

The provision of support for the Federal Union agenda in education, equity and industrial issues.

The Branch’s principal activities resulted in:

Maintenance and improvement of wages and conditions of employment for our members, especially those covered by collective bargaining agreements negotiated by our union;

Growth of our solid membership base in New South Wales and Australian Capital Territory, demonstrating member satisfaction of the support and advice currently provided to them; and

There were no significant changes to the nature of the Branch’s activities during the year.

Significant Changes in Financial Affairs

As part of an operational change, all staff of New South Wales Independent Education Union were administratively transferred to the Branch effective 1 January 2016 and the Branch assumed responsibility for all expenses in relation to providing services to members and for collecting membership subscription revenue as from 1 July 2016. The New South Wales Independent Education Union would engage the Branch to provide staff support as and when required and subject to a service agreement.

The reporting unit continued to engage in its principal activities, the result of which are disclosed in the attached financial statements. It is anticipated that the ensuring year operating will remain the same.

Right of Members to Resign

In accordance with Rule 21 of the Independent Education Union of Australia, a member may resign from membership by written notice addressed and delivered to the Branch Secretary.

Officers and Employees who are Superannuation Fund Trustees or are Directors of a Company that is a Superannuation Fund Trustee are:

John Quessy Branch Secretary NGS Super (Alternate Director)

Gloria Taylor Branch Deputy Secretary NGS Super (Director)

Chris Wilkinson President NGS Super (Director)

The criterion for being a trustee or director is that officer or employee is an officer or employee of the organisation

Number of Members

The number of members recorded at the end of the financial year was 31,950.

Number of Employees

The number of employees (on a full time equivalent basis) at the end of the financial year was 71.

Names of Committee of Management Members and the Periods Held During the Financial Year

The committee members have been in office since the start of the reporting period unless otherwise stated.

Date: 3 March 2017
Signature of designated officer:
Name of designated officer: John Quessy -Branch Secretary

Committee of Management Statement

On 3 March 2017 the Committee of Management (Branch Executive) of the Independent Education Union of Australia New South Wales/Australian Capital Territory Branch (the "IEUA NSW/ACT Branch") passed the following resolution in relation to the general purpose concise financial report (GPFR) for the year ended 31 December 2016:

The IEUA NSW/ACT Branch declares that in its opinion:

(a) the financial statements and notes comply with the Australian Accounting Standards;

(b) the financial statements and notes comply with the reporting guidelines of the General Manager;

(c) the financial statements and notes give a true and fair view of the financial performance, financial position and cash flows of the reporting unit for the financial year to which they relate;

(d) there are reasonable grounds to believe that the reporting unit will be able to pay its debts as and when they become due and payable; and

(e) during the financial year to which the GPFR relates and since the end of that year:

(i) meetings of the committee of management were held in accordance with the rules of the organisation including the rules of a branch concerned; and

(ii) the financial affairs of the reporting unit have been managed in accordance with the rules of the organisation including the rules of a branch concerned; and

(iii) the financial records of the reporting unit have been kept and maintained in accordance with the Fair Work (Registered Organisations) Act 2009 (the "RO Act"); and

(iv) where the organisation consists of two or more reporting units, the financial records of the reporting unit have been kept, as far as practicable, in a consistent manner with each of the other reporting units of the organisation;

(v) where information has been sought in any request by a member of the reporting unit or General Manager duly made under section 272 of the RO Act has been provided to the member or General Manager; and

(iv) where any order for inspection of financial records has been made by the Fair Work Commission under section 273 of the RO Act, there has been compliance.

(f) no revenue has been derived from undertaking recovery of wages activity during the reporting period.

This declaration is made in accordance with a resolution of the Committee of Management.

Date: 3 March 2017
Signature of designated officer:
Name of designated officer: John Quessy -Branch Secretary

Concise financial report
For the year ended 31 December 2016

The Committee of Management of the Independent Education Union of Australia New South Wales/Australian Capital Territory Branch has resolved to provide a concise financial report to members for the financial year ended 31 December 2016.

The concise financial report has been derived from the full report and cannot be expected to provide as full an understanding of the financial performance, financial position and financial and investing activities of the reporting unit as the full report. A copy of the full report and auditor's report will be published on the website of Independent Education Union of Australia New South Wales/Australian Capital Territory Branch, free of charge.

Members are advised of the following provision of the Fair Work (Registered Organisations) Act 2009:

272 Information to be provided to members or General Manager:

(1) A member of a reporting unit, or a General Manager, may apply to the reporting unit for specified prescribed information in relation to the reporting unit to be made available to the person making the application.

(2) The application must be in writing and must specify the period within which, and the manner in which, the information is to be made available. The period must not be less than 14 days after the application is given to the reporting unit.

(3) A reporting unit must comply with an application made under subsection (1).

Independent Audit Report

To the Members of the Independent Education Union of Australia NSW/ACT Branch

Report on the concise financial report

We have audited the accompanying concise financial report of the Independent Education Union of Australia NSW/ACT Branch, which comprises the Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and Statement of Cash Flows for the year then ended, derived from the audited financial report of the Independent Education Union of Australia NSW/ACT Branch for the year ended 31 December 2016. The concise financial report does not contain all the disclosures required by the Australian Accounting standards and accordingly, reading the concise financial report is not a substitute for reading the audited financial report.

Responsibility for the concise financial report

The Committee of Management and the Branch Secretary of the Independent Education Union of Australia New South Wales/Australian Capital Territory Branch are responsible for the preparation and fair presentation of the concise financial reports in accordance with Accounting Standard AASB 1039: Concise Financial Reports and the Corporations Act 2001 and the Fair Work (Registered Organisations) Act 2009 and other mandatory concise financial reporting requirements in Australia.

This responsibility includes establishing and maintaining internal controls relevant to the preparation and fair presentation of the financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor’s responsibility

Our responsibility is to express an opinion on the concise financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards and with reference to the Fair Work (Registered Organisations) Act 2009. These Auditing Standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the concise financial report is free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the concise financial report. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessment, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the concise financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. These procedures have been undertaken to form an opinion on whether, in all material respects, the concise financial report complies with AASB 1039: Concise Financial Reports and whether the discussion and analysis complies with the requirements laid down in AASB 1039: Concise Financial Reports.

An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Committee of Management and the General Secretary, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Independence

In conduct our audit, we have complied with the independence requirement of Australian professional ethical pronouncement and the Fair Work (Registered Organisations) Act 2009.

Auditor’s opinion

We state that the concise financial report has been audited and in our opinion, the concise financial report presents fairly, in all material respects, the financial position of the Independent Education Union of Australia New South Wales/Australian Capital Territory Branch as at 31 December 2016, and its financial performance and cash flows for the year ended in accordance with Accounting Standard AASB 1039: Concise Financial Reports and the requirements imposed by Part 3 of Chapter 8 the Fair Work (Registered Organisations) Act 2009.

We declare that the auditor is an approved auditor as provided in the Fair Work (Registered Organisations) Act 2009 and is a fellow of The Institute of Chartered Accountants in Australia with a current Public Practice Certificate.

SUTHERLAND & COMPANY
Ground Floor 4 Railway Parade
Burwood NSW 2134

D.W. Sutherland AM JP BA FCA
Registered Company Auditor (Nr. 3835)
Date: 17 March 2017