Media Releases

10 April 2019

NAIF’s response to ANAO report

The Australian National Audit Office (ANAO) has today reported on NAIF’s governance arrangements. NAIF accepts all recommendations.

The report concludes that NAIF has an appropriate governance framework, including systems of risk management and internal control. It also concluded that NAIF has an appropriate integrity policy framework and that its management of conflicts of interest were effective.

It recommended areas for improvement around publishing more information and better recording of aspects of its decision making and also relating to measuring and reporting on certain performance targets.

The audit comes within 34 months of NAIF’s establishment and will enable the organisation to further develop its governance framework.

To deliver maximum benefit to the tax-payer, NAIF’s governance and processes must reflect the commercial environment in which it operates.

NAIF treats seriously its duty to act transparently and with the utmost integrity.

Full details of the report and NAIF’s response are available at


A summary of NAIF’s response to the ANAO is available here: Summary of NAIF response

NAIF’s full cover letter in response to the ANAO is available here: Letter to ANAO

NAIF full responses to the  ANAO recommendations is available here: NAIF response to ANAO recommendations