Mission Australia wins PwC Transparency Award

Mission Australia’s high standard of reporting and public accountability was recognised with a prestigious PwC Transparency Award (in the greater than $20m revenue category) at an event in Sydney last night.

It is the first time Mission Australia has won the award for the quality and transparency of reporting in the not-for-profit (NFP) sector.

CEO Toby Hall, said the award was welcome recognition for the organisation’s long-term efforts in this area.

“Over the last few years there’s been a debate in Australia – and rightfully so – about the need for the NFP sector to increase its levels of transparency and accountability,” Mr Hall said. “Mission Australia has been fully committed to that process, across the organisation but in particular through its reporting. This award is very welcome recognition of that commitment.

“There’s no question that the public is increasingly cynical about charities and the NFP sector’s use of grants and donations. To combat that it’s our responsibility to provide evidence we are prudent and responsible managers of the funds we receive from governments, corporate partners and the donating public,” he added.

“The NFP sector contributes $43 billion to the country’s GDP, it’s only right and proper that across the board we lift our efforts. Without greater transparency it’s the NFP sector itself – and ultimately the causes and issues it represents – that will ultimately be the losers. If the public doubts the accountability of charities, they’ll donate less.”

This year the awards were expanded to encourage participation by a wider breadth of organisations. Camp Quality won the PwC Transparency Award in the category for organisations with between a $5m to $20m revenue category.

Spokesperson for the Jury, Rupert Myer, who is Chairman of The Myer Family Company Ltd said Mission Australia‘s very comprehensive annual report embodies a high regard for transparency and full disclosure on programs and activities.

“The usefulness of information presented, especially considering the difficulty of explaining such a complex organisation to a wide range of stakeholders, made them the worthy winner of this year‘s PwC Transparency Award in the category for organisations with greater than $20m revenue,” he said.

After receiving the award from Graham Meyer, CEO for the Institute of Chartered Accountants, Mr Hall encouraged other NFPs to create Reconciliation Action Plans to help increase opportunities for Aboriginal Australians.

The Jury was presented with a shortlist containing three worthy and diverse finalists in each category – and the final decisions were very close.

Oxfam and Opportunity International were the runners-up in their respective categories, while Plan International won the Most Improved Award.

Now in their fourth year, the PwC Transparency Awards are undertaken in collaboration with the Institute of Chartered Accountants in Australia (the Institute) and the Centre for Social Impact (CSI)

Last night the CSI’s Peter Shergold said the need for strong disclosure was becoming increasingly important:

“As NFPs focus increasingly on measuring the social impact of their activities, and as new forms of social enterprise develop, the need for a strong disclosure regime becomes more vital,” he said.

“Government funders, philanthropists and social investors now expect that the financial performance, governance arrangements and risk management strategy of NFPs will be reported in a transparent manner.”

Above photo (L to R):  Mr Shergold, Mr Meyer, Mr Hall, Tim Morris-Smith (CFO for MA), Rick Millen (PwC Foundation) and Mr Myer

Find out more about the awards here.

You can view Mission Australia’s Annual Report 2010 here.

Visit Mission Australia's Aboriginal & Torres Strait Island resources page for our Reconciliation Action Plan (RAP), the latest indigenous news, current affairs and policy updates.