Annual Report
2019
Achieving our Strategic Goals Summary of Activities and Progress (July 2018 – June 2019)
THE COLLEGE The Royal Australian and New Zealand College of Radiologists (RANZCR)
College Values That Drive What We Do
Our
Vision
Commitment to Best Practice
RANZCR leading best practice in clinical radiology and radiation oncology for the benefit of our patients and society.
Our
Purpose To drive the safe and appropriate use of radiology and radiation oncology to optimise health outcomes through leadership, education and advocacy.
Exemplified through an evidence-based culture, a focus on patient outcomes and equity of access to high quality care; an attitude of compassion and empathy.
Acting with Integrity Exemplified through an ethical approach: doing what is right, not what is expedient; a forward thinking and collaborative attitude and a patient-centric focus.
Accountability Exemplified through strong leadership that is accountable to members; patient engagement at professional and organisational levels.
Leadership Exemplified through a culture of leadership where we demonstrate outcomes.
Board of Directors
Dr Lance Lawler President
Clin A/Prof Sanjay Jeganathan Dean, Faculty of Clinical Radiology
Dr Madhavi Chilkuri Dean, Faculty of Radiation Oncology
Dr Gabriel Lau Chair, New Zealand Branch
Dr Brigid Hickey Elected Fellow
Dr Peter Pratten Elected Fellow
Dr Yvonne Ho Elected Fellow
Prof Vin Massaro Non-Fellow
2 I ANNUAL REPORT 2019 THE COLLEGE
A Message from the President
Dr Lance Lawler
At last year’s ASM in Canberra, Nobel Laureate Prof Brian Schmidt, spoke eloquently about the future and how we should best deal with our inability to predict it well. With another year now under our belts, we can reflect on the work we have done to create the future that we wish to see. The year saw many successes that were as much a result of our efforts over the last few years to shift the College from its more inward focus as they were of the dedicated staff and volunteers creating the right conditions to achieve this success. In this year alone, this intensified effort included over 20 submissions and a record number of meetings with Ministers and Shadow Ministers, in both Australia and New Zealand. This engagement has also resulted in governments and agencies regularly consulting with the College for its expertise, insight and input on both policy-related and other matters. RANZCR is now widely recognised as the peak body for clinical radiology and radiation oncology in Australia and New Zealand, and a respected voice elsewhere.
Though our list of achievements for the year is long, we must never forget that complacency is the enemy and continuously reassess and refocus our efforts when appropriate. The College continues to devote resources to promote the role of our two specialties, lobbying government to improve access and affordability in healthcare, and addressing the impact of Artificial Intelligence (AI) on our professions. RANZCR recently co-hosted the first ever Radiation Oncology Horizon Summit in New Zealand with Health Minister, the Hon Dr David Clark. The event emphasised the current underutilisation of this lifesaving treatment and has kickstarted the process of developing new Government policies. The College has also provided a comprehensive response to New Zealand’s Health and Disability Review for both clinical radiology and radiation oncology. Among our other advocacy achievements in Australia were increased funding in 2018–19 for specialist training program (STP) posts, additional MRI licences, and new Medicare items covering 3D breast tomosynthesis and a range of MRI scans, including certain obstetric, cardiac and liver cases, and the diagnosis of prostate cancer. You can read more about our achievements on page six of this annual report. The need for advocacy is unending, and despite the positives that came out of the recent Australian Federal Election the work continues. New Zealand will be holding their next federal election in 2020 and we will continue to look for opportunities to improve patient outcomes in our specialities. In these initiatives and many others, the College is playing a long form of the advocacy game, working towards the goal of becoming a 'trusted adviser.'
The principles have been downloaded from our website more than 1,500 times, making it our most viewed document in 2019. This work continues to proceed whilst at the same time, the College continues to move towards achieving the goals of our 2021 strategy. I am encouraged in the knowledge that we are taking the right steps to tackle the coming challenges. Striving to improve helps the College focus on the future of our profession, and surely, we need to remain focused if we want to have a future. As I have said in the past, the market for our professional services is among the most competitive in healthcare, and our funding streams and the health policies that affect us are under constant review. Whether in terms of technological innovation or competing service models, no medical specialist has as much at stake as the radiologists and radiation oncologists. The Board and the College management team know these hard realities well and we will continue to keep this in mind as we focus on creating another successful year.
Beyond the advocacy efforts, our work in AI has been widely recognised. RANZCR was the first professional healthcare body in the world to develop Ethical Principles for Artificial Intelligence (AI) in Medicine.
PRESIDENT REPORT ANNUAL REPORT 2019 I 3
The College ONLINE
CEO presents… a year at a glance
COLLEGE SOCIAL MEDIA
3,226 followers on Twitter 4,476 likes on Facebook 2,578 followers on LinkedIn
TARGETING CANCER SOCIAL MEDIA
152
NEW TRAINEES
17 new
Educational Affiliates
RANZCR Research Grants Awarded Clinical Radiology $59,125 Radiation Oncology $59,978
The highest ever media coverage for the College total audience reached: 5,385,865
388% increase from 2017/18
4 I ANNUAL REPORT 2019 YEAR AT A GLANCE
149 NEW
4,080 followers on Twitter Twitter Engagements 361,500 2,968 followers on Facebook Facebook Reach 279,228 448 followers on LinkedIn
FELLOWS
RANZCR WEBSITE
93%
of respondents rated their interaction with the College satisfactory / highly satisfactory
JMIRO Impact Factor 1.2
108 Fellows
participated in MBS Review
163,594 users 346,674 sessions 823,645 page views TARGETING CANCER WEBSITE
142,866 users 170,586 sessions 248,412 page views INSIDERADIOLOGY WEBSITE 1,574,121 users 1,810,631 sessions 2,162,890 page views
Member DEMOGRAPHICS
EVENT Attendance GENDER:
TOTAL NO. MEMBERS:
4,486
SPECIALTY:
TYPE:
775
Educational Affiliates
Students
3,084
male
NSW
VIC
QLD
WA
SA
ACT
1,166 921 714
Oncologists
119
2018 Annual Scientific Meeting
LOCATION:
3,785 Clinical 698 Radiation Radiologists
1,381
female
1,035 delegates attended the
6
362
294
84
TAS
NT
NZ
Associate members
69
3,462
Fellows (including 99 Life members)
6 665 Overseas 193
A snapshot of some of the ways in which our members engaged with College activities in 2018/19
Members donating to our Education and Research Fund and the JP Trainor Archive Trust:
90
Sitting on our committees, panels and working groups:
744
Participated in Special Interest Groups and Reference Groups:
1,530
Sitting on the Board and Faculty Councils:
45
NUMBER SUPPORTING OUR TRAINING PROGRAM
6
Network Training Directors (Radiology only)
8
Training Network Directors (Radiation Oncology only)
8
CONTRIBUTING TO OUR PUBLICATIONS
Branch Education Officers (Radiology only)
20
IMG Assessors
10
JMIRO:
1 Editor in Chief 2 Deputy Editors 34 Associate Editors 240 Reviewers
Inside News:
1 Editor in Chief 17 Contributors
Training Site Accreditation Assessors
189
255 delegates attended the 2018
NZ Branch Annual Scientific Meeting 168 delegates attended the Intelligence 18 Event 117 delegates attended the 2018 ACR Courses 24 delegates attended the 2019 FRO Phase 2 Exam Preparation Course 32 delegates attended the 2019 FRO Phase 1 Exam Preparation Course 31 delegates attended the 2019 FRO Phase 1 Foundation Course 38 delegates attended the 2019 FRO SMART Workshop
CREDENTIALING CT Coronary Angiography (CTCA) As at 30 June 2019, there are:
572
registered CTCA Specialists Level A CTCA: 394 Level B CTCA: 178 (including radiologists, cardiologists and nuclear medicine specialists)
CT Colonography (CTC) As at 30 June 2019 there are:
329
registered CTC Specialists (including radiologists only)
Interventional Neuroradiology (INR) As at 30 June 2019 there are:
51
recognised INR Specialists (including radiologists, nuerologists and neurosurgeons)
Cardiac MRI
Directors of Training
As at 30 June 2019 there are:
161
registered Cardiac MRI Specialists (including radiologists and cardiologists)
RANZCR Examiners
100
YEAR AT A GLANCE ANNUAL REPORT 2019 I 5
Key achievements of the year Record number of meetings (39) with Ministers and Shadow Ministers in both Australia and New Zealand.
Played a significant role in securing Australian Government commitment to additional funding for breast MRI as part of the treatment of breast cancer.
The Australian Government announced indexation of ultrasound and X-ray services, following advocacy by RANZCR and Australian Diagnostic Imaging Association (ADIA).
RANZCR was the first professional healthcare body in the world to develop Ethical Principles for Artificial Intelligence (AI) in Medicine. The principles have been downloaded from our website more than 1,500 times, making it our most viewed document ever.
Responded to several consultations on AI including CSIRO’s Ethical Framework Discussion Paper, the Therapeutic Goods Administration (TGA) consultation on the Regulation of Software as a Medical Device, the Australian Human Rights Commission consultation on AI and the NZ Therapeutic Products Bill.
The Australian Government committed $375 million over four years, to expand access to Medicare-eligible MRI machines. They also committed to working with RANZCR to further expand access to this important life-saving technology, including evaluation of the additional 53 MRI licences.
This year RANZCR developed an Australian federal election survey to promote our advocacy priorities. The Coalition, Labor, Australian Greens and Central Alliance all completed the survey. As a result, RANZCR received commitments from all parties to: o Develop a comprehensive strategy to prepare for the adoption of artificial intelligence (AI) in healthcare o Support access to particle therapy, including the creation of a nationally coordinated plan for particle therapy, and o Support the MBS Review Taskforce recommendation to fund detailed modelling and a pilot of the proposed changes to the MBS Radiation Oncology Schedule.
6 I ANNUAL REPORT 2019 ACHIEVEMENTS
RANZCR provided a comprehensive response to New Zealand’s Health and Disability Review for both clinical radiology and radiation oncology.
RANZCR co-hosted the first ever Radiation Oncology Horizon Summit in New Zealand with Health Minister, the Hon Dr David Clark. The event emphasised the current underutilisation of this lifesaving treatment and has kick-started the process of developing new Government policies.
RANZCR led the Australian Medical Services Advisory Committee application for the new Medicare item for foetal MRI improving access to and affordability of this vital scan for pregnant women.
We were instrumental in the Australian Government listing of liver MRI saving patients up to $800 for a MRI scan which can help detect liver cancer more effectively.
RANZCR and other key stakeholders worked to secure $68 million to improve cancer care for patients in regional Australia through investing in new radiation therapy facilities.
The highest ever media coverage for the College, total audience reached: 5,385,865 (a 388% increase from 2017/18).
RANZCR has been a proactive contributor to the Medicare Benefits Schedule (MBS) Review and provided valuable feedback to all reports that impact on our sectors. The Department of Health has described RANZCR as the “outstanding contributor” to the Review process.
RANZCR has been invited by the Australian Department of Health (DoH) to participate in several Implementation Liaison Groups to support the implementation of changes from the MBS Review Taskforce.
An increase in proactive media activities, including editorials published in the Medical Observer, Australian Doctor and NZ Doctor.
Proactive TV feature stories raised the profile of the Targeting Cancer campaign which supported the Midnight Rambler crew in the Sydney to Hobart yacht race.
Submission of 2019 RANZCR Reaccreditation submission to Australian Medical Council (AMC) and Medical Council of New Zealand (MCNZ).
33 Specialist Training Program (STP) applications (predominantly Clinical Radiology) received in the Department of Health’s November Expression of Interest.
Examiner Code of Conduct approved.
The inaugural Network Training Development Forums were held for Clinical Radiology and Radiation Oncology, providing a greater focus on the requirements of the network training program, accreditation and STP.
ACHIEVEMENTS ANNUAL REPORT 2019 I 7
Key achievements of the year cont.
Training at new regional and private settings has increased as a result of the STP; each network now has a regional rotation.
Part 1 examination reforms have been finalised and approved with other exam changes approved. Implementation intending to commence in 2021.
Both TAR Steering Committee have made steady progress in the Training and Assessment Reform, with the enhanced training program expected to be completed by end of September 2019.
Implementation of enhanced training programs has commenced and is progressing according to the plan.
Reviewed and adjusted accreditation report structure for both faculties
Review of IMG processes to align with MBA Good Practice Guidelines
Professional Document publication
Version 11 CR Standards of Practice Interventional Radiology White Paper Framework for Recognition of Training in Percutaneous Stroke Intervention Policy on the use of Thermography to detect Breast Cancer position statement – Sep 2018 Imaging of Breast implant associated Anaplastic Large Cell Lymphoma position statement – Nov 2018 Molecular Breast Imaging / Breast Specific Gamma Imaging position statement – Jun 2019 Breast Imaging Grading Comparison and Lesion Classification lists – Aug 2018
8 I ANNUAL REPORT 2019 ACHIEVEMENTS
New Fellows
Clinical Radiology
David Oar
Kenneth Sim
Gerard O'Sullivan
Christopher Cassady
Syed Zaheer
Shu Yi Tan
Jacobus Otto
Paul Parizel
Sarah Cherian
Melissa Cheng
Pallavi Byrapu
Michael Tuppin
Cheng Lin Ting
Stella Jo
Radiation Oncology
John Hilton
Jonathan Dillon
NZ
ACT
Rajeev Deva
Gary Tan
Neda Maani
Timothy Squire
Arani Halder
Ana Brusic
Eliot Bishop
NSW
Brendon May
Heather Pascoe
Debbie Yeh
Vicky Chin
Vinicius Carraro Do Nascimento
Eliza Preece
Shane Lee
Ro'ya Merie
Jeffrey Lai
Pradeep Sonwalkar
Hemanth Subramaniam
Gina Hesselberg
Mandy Ren
Manish Chug
Gorane Santamaria Hormaechea
Abigail Chong
Lee Young
Grace Aw
SA
Megan Ang
Anthony Harris
Edwin Ho
Chinthaka De Silva
James Bewes
Angeline Ng
Guy Harris
Samuel Toner
Felix Paterson
Chatura Wijetunga
Glyn Llewellyn-Jones
Terina Caughey
Edward Wang
Bob Tran
Gabrielle James
Sonal Amin
Andrew Low
Simeon Babawale
Seung Wook Ryu
Daniel Cornfeld
Scott Luxton
Chandra Annabattula
Weeragoda Gamage Wijesinghe
Thomas Paxton
Hayden Bell
Chester Chong
Claudia Weidekamm
Tyler Munk
Hao Xiang
William Howard
Emmy De Heer
Tanushree Bhattacharjya
Farhan Ahmed Muhammad Idris
Shane Diers
Louise Van Camp
Sarah Faithfull
Liyanaarachchi Silva
Albert Eshun
Sweta Shalini
TAS
Dylan Kurda
Singapore
Yuvnik Trada
Geetha Ramaswami
Emma Young
Hong Kok
Siska Muljadi
NZ
Matthew Mouat
Jennifer Shoobridge
WA
Overseas
Ruvini Gunawardana
Zhun Jeat Lee
Aradhna Raj
Balaji Kodivalasa
Singapore
Zerlene Lim
Susan-Mary O'Hanlon
Michelle Tseng
Marjanne Descamps
ACT Jatinder Shekhawat Melissa Craft Bhagya Ratna Tekula Wen Ter Kan
NSW Brendan Coghlan Diederick De Boo Timothy Shore Jaw Tzeng Tronidjaja
NT
Jessica Monkhorst
Ahmed Bilal
VIC
QLD
Jason Wong
Gregory Lock
Doreen Quan
Arjuna Somasundaram
Chau Nguyen
Yu-Ting Huang
Aaron Ow
Bradley Wray
Pieter Wood
William McKenzie
Shyam Sankaran
Christian Acksteiner
Anthony Cardin
Bernadette Wong
Ashley Rossiter Andrew Hely
Samuel Gane Charles Werren Jayant Kumar Sven Klinken
Kin Sang Lam Eun Ji Hwang
Kathy Wyant
Kimberley Nguyen Shreya Armstrong
NT Saad Maqsood Jonathon Hutton
QLD Edward Sia Gishan Ratnayake Joanne Castelli Hon Trinh Michael Huo
Mallikarjunappa Jing Zhou Olivia Chin
David Serich
Neelika Kirihetti Liyanage
Madusha Chandratilleke
Sean Mcilhone
Priyank Sheshagiri Chatra
Heba Abdelrahman
Verash Bhagwandas
NEW FELLOWS ANNUAL REPORT 2019 I 9
Support from our Members and Sponsors
The College is very grateful to the following Fellows and Members who have donated to the annual appeals for the Education Fund, the Research Fund and the JP Trainor Archive Trust. We also thank those members who declined to have their donations recognised.
College Donors Dr Firdaus Abd Rahim
Adj C/Prof Andrea Glynn
Dr Ashok Kumar
Dr Luke Oakden-Rayner
Dr Pradeep Sonwalkar
A/Prof Brendan Adler
Dr Stacy Goergen
Dr Numan Kutaiba
Dr Inna Page
Dr Peter Stein
Dr Verity Ahern
Dr Nirdosh Gogna
Dr Jan Labuscagne
Dr Amanda Palmer
Dr Abdul Tahir
Dr Suzan Bahadir
Dr Mary-Louise Greer
Dr Aleksandra Lange
Dr Geoffrey Peretz
Dr Keen Hun Tai
Dr Diana Balog
Dr Madhu Gulati
Dr Margaret Latham
Dr Richard Perry
Dr Julius Tamangani
Dr Gillian Beveridge
Dr Rebecca Hall
Dr Melissa Lea
Dr John Quayle
Dr Simon Tang
Dr Krishna Bharat Boddupalli
Dr Leigh Harvey
Dr Philip Lew
Dr Tulasi Ramanarasiah
Dr Stephen Thompson
Dr David Boshell
Dr Shabeer Hassam
Dr Kian Lim
Dr Vinicius Resende
Dr Mahdi Timasi
Dr Nicholas Brown
Dr Peter Henderson
Dr Glen Lo
Dr Ian Revfem
Dr David Byram
Dr Aneequa Hussain
Dr Ronny Low
Dr Joseph Richter
Dr Lourens Rasmus Van Der Westhuizen
Dr York Cheung
Dr Muhammad Idris
Dr Karthik Marripudi
Dr Donald Robertson
Dr John Stephen Vedelago
Dr Sheetal Dhote
Clin A/Prof Deepak Jain
Dr Thomas Mathews
Dr Patricia Robertson
Clin Prof Arthur Vellios
Dr Colin Dicks
Dr Sanjay Jeganathan
Dr Ky McGrillen
Dr Daniel Sampaio Vieira
Dr Michael Veness
Dr Peter Downey
Dr Sandeep Joshi
A/Prof Salim Merchant
Dr Darrel Sargeant
Dr Denise Warner
Dr John Eng
Prof Solokara Karunarathne
Dr Christopher Milross
Dr Giuseppe Sasso
Dr Philip Weeks
Dr Richard Foster
Dr Lizbeth Kenny
Dr Manish Mittal
Dr Christine Shearman
Dr Garvin Williamsz
Dr Patrick Galvin
Dr Shahroz Khan
Dr Deepali Nandurkar
Dr Darryl Shnier
Dr Alan Wise
Dr Peter Gendall
Dr Alan Klevansky
Dr Kenneth Neale
Dr Fariha Sitheeque
Dr Nazanin Zarerad
Dr Daniel Gierhake
Dr Ratna Koyyalamudi
Dr Katherine Neville
Dr Piyush Siwach
Dr John Gimpel
Dr Maren Krueger
Dr Kim-Son Nguyen
Dr Paul Smith
AstraZeneca
We acknowledge the valuable support provided during the year by our supporters and sponsors.
Kestral
AbbVie Pty Ltd
DPI Medical New Zealand Limited
Accuray Asia Limited
EIZO
Macquarie Bank
AlphaXRT
Elekta Pty Ltd
Medtronic Australasia Pty Ltd
Avant
European Society of Radiology
Mundipharma Pty Ltd
Bayer Australia Ltd BOQ Specialist Brainlab Camhealth Cancer Institute NSW
Everlight Radiology EverX Pty Ltd GE Healthcare GenesisCare
GRC Surgical Canon Medical Systems ANZ Guerbet Australia Pty Limited Healthcare Imaging Services Carestream
Kiwis STAT Ltd
Pacific Radiology Group Philips Healthcare QScan Radiation Oncology Private Practice Fund Administration Radiology DU Ltd Radius Imaging Siemens Healthcare Limited
Carl Zeiss Pty Ltd
Healthinc Pty Ltd
Siemens Healthineers
Central Data Networks Pty Ltd
Hologic (Australia) Pty Ltd
SKG Radiology, Sonic Healthcare
Hyland
Claremont Health Equipment IBM Watson Health Finance ICON Group Comrad Medical Systems Imaxeon Pty. Ltd. CorTechs Labs Culpan Medical Pty Ltd
I-MED Radiology Network
Integral Diagnostics Diagnostic Imaging Australia Intelerad Medical Systems
10 I ANNUAL REPORT 2019 SPONSOR AND MEMBER SUPPORT
Varian Medical Systems Volpara Solutions Voyager Imaging Waikato DHB
Treasurer’s Report surpluses of $7,713,871 which while small compared to the larger Royal Colleges, act as a financial buffer, and have provided investment and capital improvement gains that helped us to minimise fee increases.
Dr Peter Prattan Financial Performance in 2018-2019 The Financial Statements for the year ending 30 June 2019, along with the auditor’s report are presented in this document. Detailed versions can be found on the College website www.ranzcr.com. The College’s current financial objective is to achieve a breakeven result, excluding extraordinary projects of special significance. Funding of these projects has been set aside from the cash reserves built up over the last several years (referred to as ‘Accumulated funds’ in the accounts). Investment in our training programs continued through a comprehensive reform of Training and Assessment, which followed the earlier review findings of the ACER/Prideaux report (2014). This work and investment is nearing completion and is moving to full implementation phase, which is scheduled for 2021 academic year. The financial impact of the reform in the current financial year is $654,621 which is in line with the budget for the reform agenda. The net income after the Training and Assessment Reform project results in a net surplus of $440,633 for 20182019. A significant contribution to the financial year’s surplus is attributed to the performance in the College’s investments. The College has retained
The implementation of Training and Assessment Reform will remain an important area of College investment. Concurrently the College is working on IT platforms that will support the implementation of training and CPD reforms. IT costs will continue to be a major expense for the College as the rapidly changing environment dictates, we need to maintain the security, reliability and improve efficiency of the College’s programs. The timely and rigorous attention given to our IT platforms means that we are getting best value for member dollars.
Advocacy
Donations and Other Support The College is grateful for the support it received from its Fellows, members, corporate supporters and associated organisations throughout the year: detailed acknowledgement is available on page 10 of this report. The College is also very grateful to Fellows and members who have donated to the Education and Research Fund annual appeal. Without the generous pro bono assistance by so many members and Fellows, the cost of maintaining and growing the scope and the excellence of the College would require serious fee increases. We thank the Fellows who have contributed their time for the voluntary work and keep our costs contained by supporting training, examinations and a host of other activities.
The focus on Advocacy remained high during the election year with increased level of activities. The social and financial outcomes are satisfying for both our members and patients alike. However, ongoing interaction with policy and stakeholders to ensure timely and quality implementation of these changes will be crucial to bring these new policies to fruition. A great intangible aspect of our positive approach to Advocacy has been further projected mitigation of perceived risk of RANZCR’s standing and image in medical practice, public and government perception.
Program Funding The Specialist Training Program continues to be funded by grants from the Australian Department of Health. Most of the project is covering the College’s overhead costs to produce the outcomes required. The funding will continue until the end of the current contract in December 2021.
Membership Subscriptions The Board determined that for 2019 2020 annual subscription should be set at $2,795 for Fellows and Educational Affiliates. The fee will assist in covering our ongoing expenses and will contribute to the long-term financial viability of the College. TREASURER'S REPORT ANNUAL REPORT 2019 I 11
Auditor’s Letter
Level 17, 383 Kent Street Sydney NSW 2000 Correspondence to: Locked Bag Q800 QVB Post Office Sydney NSW 1230 T +61 2 8297 2400 F +61 2 9299 4445 E info.nsw@au.gt.com W www.grantthornton.com.au
Independent Auditor’s Report To the Members of The Royal Australian and New Zealand College of Radiologists Report on the audit of the financial report
Opinion We have audited the financial report of The Royal Australian and New Zealand College of Radiologists (the “Registered Entity”), which comprises the statement of financial position as at 30 June 2019, the statement of profit or loss and other comprehensive income, statement of changes in funds and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and the Responsible Entities’ declaration. In our opinion, the financial report of The Royal Australian and New Zealand College of Radiologists has been prepared in accordance with Division 60 of the Australian Charities and Not-for-profits Commission Act 2012, including: 1.
giving a true and fair view of the Registered Entity’s financial position as at 30 June 2019 and of its financial performance for the year period then ended; and
2.
complying with Australian Accounting Standards and Division 60 of the Australian Charities and Not-for-profits Commission Regulation 2013.
Basis for opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Registered Entity in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389 ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
12 I ANNUAL REPORT 2019 AUDITOR'S LETTER
www.grantthornton.com.au
Responsibilities of the Responsible Entities for the financial report The Responsible Entities of the Registered Entity are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and the Australian Charities and Not-for-profits Commission Act, and for such internal control as the Responsible Entities determine is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. In preparing the financial report, the Responsible Entities are responsible for assessing the Registered Entity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Responsible Entities either intend to liquidate the Registered Entity or to cease operations, or have no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Registered Entity’s financial reporting process. Auditor’s responsibilities for the audit of the financial report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: •
Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
•
Obtain an understanding of internal control relevant to the audit 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 Registered Entity’s internal control.
•
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Responsible Entities.
•
Conclude on the appropriateness of the Responsible Entities use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Registered Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Registered Entity to cease to continue as a going concern.
•
Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.
AUDITOR'S LETTER ANNUAL REPORT 2019 I 13
Auditor’s Letter cont.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
Grant Thornton Audit Pty Ltd Chartered Accountants
James Winter Partner – Audit & Assurance Sydney, 6 September 2019
14 I ANNUAL REPORT 2019 AUDITOR'S LETTER
Level 17, 383 Kent Street Sydney NSW 2000 Correspondence to: Locked Bag Q800 QVB Post Office Sydney NSW 1230 T +61 2 8297 2400 F +61 2 9299 4445 E info.nsw@au.gt.com W www.grantthornton.com.au
Auditor’s Independence Declaration To the Responsible Entities of The Royal Australian and New Zealand College of Radiologists
In accordance with the requirements of section 60-40 of the Australian Charities and Not-for-profits Commission Act 2012, as lead auditor for the audit of The Royal Australian and New Zealand College of Radiologists for the year ended 30 June 2019, I declare that, to the best of my knowledge and belief, there have been no contraventions of any applicable code of professional conduct in relation to the audit.
Grant Thornton Audit Pty Ltd Chartered Accountants
James Winter Partner – Audit & Assurance Sydney, 6 September 2019
www.grantthornton.com.au
Grant Thornton Audit Pty Ltd ACN 130 913 594 a subsidiary or related entity of Grant Thornton Australia Ltd ABN 41 127 556 389 ‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires. Grant Thornton Australia Ltd is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate one another and are not liable for one another’s acts or omissions. In the Australian context only, the use of the term ‘Grant Thornton’ may refer to Grant Thornton Australia Limited ABN 41 127 556 389 and its Australian subsidiaries and related entities. GTIL is not an Australian related entity to Grant Thornton Australia Limited.
Liability limited by a scheme approved under Professional Standards Legislation.
AUDITOR'S LETTER ANNUAL REPORT 2019 I 15
Financials STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2019 NOTE
2019
2018
$
$
8,610,813
8,062,047
814,951
696,572
Annual Scientific Meeting income
1,663,062
1,628,440
Examination fees
1,987,266
1,776,356
Education and training fees
1,255,439
583,891
Fees
834,701
618,633
Course fees
770,225
1,156,210
723,740
703,850
16,660,197
15,225,999
(7,780,906)
(6,766,452)
(60,840)
(84,462)
Council and Committee costs
(2,736,139)
(2,528,016)
Annual Scientific Meeting costs
(1,268,040)
(1,307,628)
Printing, publicity and public relations
(310,875)
(219,704)
Professional, consulting and legal fees
(1,393,742)
(1,619,554)
Journal production and postage
(287,896)
(319,113)
Occupancy costs
(377,047)
(336,773)
(338,425)
(313,585)
(65,651)
(63,769)
Interest expense
(3,044)
-
Other expenses
(1,832,586)
(1,662,440)
(16,455,191)
(15,221,496)
205,006
4,503
883,693
703,553
Training and assessment reform
(654,621)
(536,437)
Surplus for the year
434,078
171,619
6,555
2,458
6,555
2,458
440,633
174,077
Operating activities: REVENUE Member subscription income Project funding
Other revenue
3
EXPENSES Employee benefits expense Project costs
Depreciation and amortisation expense Accounting and audit fees
Surplus before other operating expenses and revenue from investments and interest Interest and investment income
7
Other operating expenses
Other comprehensive income Foreign currency translation Other comprehensive income for the year
Total comprehensive income for the year This statement should be read in conjunction with the notes to the financial statements. 16 I ANNUAL REPORT 2019 FINANCIALS
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 NOTE ASSETS
2019
2018
$
$
CURRENT Cash and cash equivalents
4
3,379,843
3,198,019
Trade and other receivables
5
591,644
426,316
Financial assets
8
2,849,846
7,155,259
Other assets
6
624,169
453,203
7,445,502
11,232,797
TOTAL CURRENT ASSETS
NON-CURRENT Property, plant and equipment
7
3,670,080
3,927,302
Financial assets
8
17,382,637
10,643,104
TOTAL NON-CURRENT ASSETS
21,052,717
14,570,406
TOTAL ASSETS
28,498,219
25,803,203
LIABILITIES CURRENT Trade and other payables
9
4,086,528
2,937,389
Employee benefits
10
690,696
563,085
Other financial liabilities
11
13,081,588
12,048,543
17,858,812
15,549,017
134,255
189,667
134,255
189,667
TOTAL LIABILITIES
17,993,067
15,738,684
NET ASSETS
10,505,152
10,064,519
2,791,281
3,058,929
7,713,871
7,005,590
10,505,152
10,064,519
TOTAL CURRENT LIABILITIES
NON-CURRENT Employee benefits
10
TOTAL NON-CURRENT LIABILITIES
FUNDS Reserves Accumulated funds TOTAL FUNDS
12
This statement should be read in conjunction with the notes to the financial statements. FINANCIALS ANNUAL REPORT 2019 I 17
Financials cont.
STATEMENT OF CHANGES IN FUNDS FOR THE YEAR ENDED 30 JUNE 2019 Reserves
Accumulated funds
Total funds
$
$
$
2,998,589
6,891,853
9,890,442
-
171,619
171,619
2,458
-
2,458
Total comprehensive income for the year
2,458
171,619
174,077
Transfers from accumulated funds to reserves
57,882
(57,882)
-
3,058,929
7,005,590
10,064,519
3,058,929
7,005,590
10,064,519
-
434,078
434,078
6,555
-
6,555
6,555
434,078
440,633
(274,203)
274,203
-
2,791,281
7,713,871
10,505,152
Notes
Balance at 1 July 2017 Surplus for the year Other comprehensive income
Balance at 30 June 2018
12
Balance at 1 July 2018 Surplus for the year Other comprehensive income Total comprehensive income for the year Transfers from reserve to accumulated funds Balance at 30 June 2019
12
This statement should be read in conjunction with the notes to the financial statements. 18 I ANNUAL REPORT 2019 FINANCIALS
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2019 2019
2018
$
$
10,325,214
10,008,185
Receipts from members
9,471,894
8,736,926
Receipts from exam and assessments
5,104,494
5,410,339
954,410
2,939,777
(3,044)
-
(24,046,069)
(21,456,552)
1,806,899
5,638,675
(81,203)
(268,440)
Net purchase of financial assets
(2,434,120)
(5,556,763)
Interest and investment income
883,693
703,553
(1,631,630)
(5,344,907)
-
-
175,269
293,768
3,198,019
2,901,793
6,555
2,458
3,379,843
3,198,019
Notes CASH FLOWS FROM OPERATING ACTIVITIES Receipts from grants and managed government program
Other receipts Interest expense paid Payments to suppliers and employees Net cash provided by operating activities
16
CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property, plant and equipment
7
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES Net cash from financing activities
Net change in cash and cash equivalents Cash and cash equivalents, beginning of year Effects of exchange rate changes on cash and cash equivalents Cash and cash equivalents, end of year
4
RANZCR INCOME
RANZCR EXPENDITURE Other
4%
3%
Sponsorship
1%
Research
3%
Events
7%
Training & Img Fees
Member Subscriptions
14%
Other
1%
Training & Assessment
59%
Standards & CPD
32%
20%
14%
Exam Fees
JMIRO
Events, Publications And Member Services
18%
Policy, Advocacy, Media, Analytics & Governance
23%
This statement should be read in conjunction with the notes to the financial statements. FINANCIALS ANNUAL REPORT 2019 I 19
College Grants Awards and Prizes Awarded 2019 ASM Prize Recipients Clinical Radiology
Elekta Award – the advances in the use of technology in Radiation Therapy Dr Trang Pham
Wiley Best Exhibit Award – Radiology Dr Martin Blake
David Wigg Prize for Radiobiology Research Dr Joseph Sia
Branch of Origin Dr Sheila Oh I-Med Best Emergency Radiology Scientific Exhibit Prize Dr George Harisis
Radiation Oncology Varian Medical Systems Educational Grants Dr Kylie Lopes Floro Dr Revadhi Chelvarajah Dr Tao Xing Dr Robert Duvenage Dr Mihir Shanker Dr Anna Gubbins Dr Girish Shah Dr Christopher Cowling Varian Prize Dr Nicholas Bucknell Wiley Best Exhibit Award – Radiation Oncology Dr Craig Wilson Chris Atkinson Award – Best Radiation Oncology Scientific Paper Presentation A/Prof David Pryor
College and Sponsored Honours Roentgen Medal Adj Clinical Professor Stacy Goergen Denise Lonergan Educational Service Award Dr Marcus Dreosti Clinical Radiology Educational Service Award A/Prof Bruno Giuffre Thomas Baker Fellowship Dr Kartika Bhatia Trans-Tasman Radiation Oncology Group (TROG) Dr Michael Li Dr Wee Loon Ong Dr Tze Kok
Examination Prizes C.E. Eddy Prize – Radiation Oncology Dr Su Chen Fong
C.E. Eddy Prize – Clinical Radiology Dr Troy Wooding H.R. Sear Prize – Clinical Radiology Dr Sally Ayesa M.G.F. Donnan Prize Dr Shane Hyun Lee
Research Prizes and Grants Faculty of Radiology Oncology Bourne and Langlands Prize Dr Michelle Tseng Withers and Peters Grant Dr Joseph Sia Clinical Radiology Early Career Researchers Award Dr Michael Chan Clinical Radiology Research Grants A/Prof Frank Gaillard Dr Arian Lasocki Radiation Oncology Research Grants Dr Kylie Lopes Floro Dr David Kok Dr Sweet Ping Ng
Deceased members It is with regret that we record the deaths of the following members during the year under review: Dr Stephen Williams Educational Affiliate NZ Dr Merl De Silva Fellow TAS Associate Professor Robin Gibson Life NZ Dr Ezra Berley Educational Affiliate NSW Dr Jerzy Mirecki Fellow NSW Dr John Maxwell Fellow Overseas Dr Neville Myers Fellow SA
Dr Frederick Jensen Life TAS Dr James Stackpool Fellow NSW Dr Vimala Nayanar Fellow NSW Dr William Benson Life SA Prof Albert Lam Life NSW Dr Michael Ti Fellow VIC Dr Edward Johnston Fellow QLD Dr Sean Skea Fellow NZ
Sydney Office Level 9, 51 Druitt Street, Sydney NSW 2000, Australia. ABN 37 000 029 863 T +61 2 9268 9777 | F + 61 2 9268 9799 | E ranzcr@ranzcr.edu.au | www.ranzcr.edu.au Wellington Office Floor 6, 142 Lambton Quay, Wellington, New Zealand T +64 4 472 6470 | F +64 4 472 6474 | E nzbranch@ranzcr.org.nz Copyright for this publication rests with The Royal Australian and New Zealand College of Radiologists®