• Risk management, compliance and complaints handling

  • The Board takes risk management, compliance with legislative and regulatory requirements, audit arrangements and complaints handling seriously and has devoted considerable effort to establishing and continually improving an overarching framework which enables Australian Catholic Superannuation to operate prudently and protect the interests of members.

  • Risk management

    • The Fund adheres to a Risk Management Strategy (RMS) to ensure that we have a consistent approach to the management of risk across all areas of the Fund.

      The RMS deals with the following matters:

      • Definition and rating of risk
      • Approach to risk
      • Determination of risk appetite and tolerance
      • Responsibility for risk management
      • Strategies and controls for mitigating risk.

      Regular monitoring and reporting of compliance with the documented controls in the RMS is undertaken by the Fund's Audit and Risk Management Committee through the evaluation of key risk indicators and other measures that support the operation of key controls.

      At least on an annual basis, the Board, Audit and Risk Management Committee and the executive team reviews the adequacy of the RMS, including the rating of the likelihood and consequences of material risks. The Fund's external auditor also audits compliance with the RMS on an annual basis.

  • Compliance

    • The Fund has policies and procedures to ensure that we comply with the law and with our internal policies.

      We complied with superannuation legislation during 2013/14. No penalties were imposed upon the Trustee under section 38A of the Superannuation Industry (Supervision) Act 1993 or corporations legislation during that financial year.

  • Audit arrangements

    • The Board appoints an external auditor to undertake an annual audit of the Fund’s financial statements, regulatory returns and compliance with legislative requirements. An independent audit opinion is issued at the conclusion of the audit providing assurance over the integrity of the financial statements and compliance with legislative requirements. The external auditor reports to the Audit and Risk Management Committee.

      The internal auditor is responsible for providing further assurance over the control environment of the Fund and Trustee. An annual internal audit program is developed by the internal auditor in conjunction with the Audit and Risk Management Committee who oversees the performance of the internal auditor.

      The Fund’s latest set of audited financial statements (see download below) summarise the Fund’s financial position and performance for the year ended 30 June 2013 (including comparatives). The financial statements were prepared in accordance with relevant accounting standards for superannuation funds and approved by the Trustee Board.

  • Complaints handling

    • The Trustee has procedures in place to handle complaints from members and their beneficiaries.

      If you have a complaint, first contact the Fund’s Administration Manager on (02) 9715 0000 or 1300 658 776. Many problems can be dealt with quickly using this method.

      If your complaint is not satisfactorily resolved, it should be directed to:

      The Complaints Officer
      Australian Catholic Superannuation & Retirement Fund
      PO Box 656
      Burwood NSW 1805
      Phone: (02) 9715 0000

      The Trustee will try to resolve your complaint quickly and fairly. If you are not satisfied with the Trustee’s decision, or if the Trustee fails to make a decision within 90 days, you may be able to take the matter to the Superannuation Complaints Tribunal (SCT). For more information call the SCT on 1300 884 114 or visit the SCT website.

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