Funds SA recognises that accountability is essential to good governance. Funds SA reports on its activities and performance to the Minister regularly.
Funds SA is subject to legislated audit and public interest disclosure obligations. Funds SA’s executives are accountable to Funds SA’s Chief Executive Officer, who in turn is accountable to the Funds SA Board, ensuring clear lines of accountability within the organisation.
Board Oversight
Funds SA’s Board of Directors is ultimately responsible for the strategic direction and oversight of management of Funds SA. Under the Superannuation Funds Management Corporation of South Australia Act 1995 (SA) (Funds SA Act), Funds SA’s Board of Directors is established as the governing body of Funds SA, and Funds SA’s CEO is responsible to the Board for the day-to-day management of Funds SA.
Learn more about current Board members here
Read more about Funds SA’s corporate governance structure here
Annual Reports
The Funds SA Act requires Funds SA to report to the Minister annually on its investments and activities. This annual report includes detail on Funds SA’s audited accounts and financial statements, valuations, conflicts of interest, and remuneration. Funds SA ensures that this report is also made available to the public each year.
View past Funds SA Annual Reports
Under the Funds SA Act, Funds SA also prepares detailed performance plans for each of Funds SA’s clients annually and reports progress in achieving targeted rate of investment return on a half-yearly basis.
Public Interest Disclosure
Funds SA is subject to the Public Interest Disclosure Act 2018 (SA) (PID Act), which replaced the earlier Whistleblowers Protection Act 1993 (SA) and establishes a scheme that encourages and facilitates the appropriate disclosure of public interest information to certain persons and authorities.
The PID Act strengthens transparency and accountability in government and provides protections for certain people who make an appropriate disclosure of public interest information in accordance with the PID Act.
Read more about Funds SA’s approach to Public Interest Disclosure here
Complaints
Funds SA defines complaints as an expression of dissatisfaction about a product, service or employee of Funds SA (including about its complaints handling process), by a person or organisation (including other public sector agencies) that is directly affected by the service or action.
Matters not considered complaints are:
- matters falling within the scope of Funds SA’s agreements;
- internal workplace complaints;
- disclosures made by whistleblowers (otherwise known as Public Interest Disclosures); and
- matters of an administrative appeal or other form of legal redress.
Super SA-related Complaints
If your complaint involves your superannuation account with Super SA, it is most appropriate that you address your complaint to Super SA in the first instance:
Click here to lodge a complaint with Super SA
Funds SA Complaints Resolution Process
Audit
The Funds SA Act requires Funds SA to keep proper accounts of its financial affairs and prepare financial statements each year. Funds SA’s internal audit function oversees auditing of Funds SA’s operations and the investment funds that it manages. The Audit Office of South Australia and other external auditors perform a comprehensive annual audit of Funds SA’s accounts and financial statements.
Funds SA’s Audit and Risk Committee approves the annual Internal Audit Plan and assists the external auditors on all matters concerning the conduct and outcome of annual audits.
Public Sector Code of Ethics
Funds SA employees are South Australian ‘public sector employees’ and, as such, are obliged to adhere to the South Australian Public Sector Code of Ethics (Code of Ethics).
The Code of Ethics prescribes various minimum professional conduct standards that Funds SA employees must follow in their daily work. This includes, but is not limited to, how Funds SA employees engage with external parties and each other, how conflicts of interest are disclosed and handled, and how they may use information gained in their official capacity.