Workskil Australia Annual Report 2021/22

Annual Report

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2 Who We Are

3 CEO and Chairperson Report

4 Our Board

8 Our Year

12 Highlights From Our Year

16 Our Reconciliation Journey

17 Information Security, Quality and Safety

20 There’s A Story Behind All That We Do

24 Thank You

25 Financial Report

Workskil Australia acknowledges Aboriginal and Torres Strait Islander peoples as the Traditional Owners and Custodians of this country, and their connection to land, water and community. We pay our respects to them, their cultures and customs, and to Elders past, present and emerging.

FRONT COVER: Previous Workskil Australia customer Pauline (right), has found social connection and confidence through her new job at Argo Café. Workskil Australia is proud to assist job seekers such as Pauline everyday to find financial and social independence.

INSIDE FRONT COVER: Our young job seekers are benefiting from our new Geared 4 Work drivers assistance program. Jared (pictured holding his L plates) is well on his way to achieving his goal of getting his licence and becoming more independent.

Who We Are

Founded in 1982, Workskil Australia is a national not-forprofit and registered charity committed to transforming peoples’ lives through the delivery of employment, community, Indigenous, youth and disability services. We operate in 50 full-time locations across New South Wales, South Australia, Victoria and Western Australia, as well as prisons and secondary schools in South Australia.

Nicole Dwyer CHIEF EXECUTIVE OFFICER Alex Zimmermann CHAIRPERSON

CEO and Chairperson Report

Our Vision

Every person in Australia has the opportunity to benefit from quality employment and education creating inclusion, wellbeing and independence.

Our Mission

To build better lives by assisting people experiencing difficulty, disadvantage or disability through employment and community services so they can achieve economic and social independence.

What We Believe

The opportunity to earn a decent living is central to a healthy and resilient society. Australian society is enriched by strong community connections and social inclusion.

Our Values

Our Values are at the heart of everything we do.

Our Values inform our thoughts, words and actions.

Care

We care for those around us and have a genuine desire to improve lives.

Respect

We respect people for who they are, their knowledge, skills and experience.

Service

We strive to exceed the expectations of our customers, employers, partners, stakeholders and colleagues.

Honesty

We are open and honest in our communication and seek the facts to ensure we provide the best quality advice for our customers.

Leading by example

We act as positive role models for our staff and clients alike.

Integrity

We uphold the highest professional standards, provide sound advice and act ethically at all times.

Teamwork

We work collaboratively to achieve our goals.

During 2021/2022 Workskil Australia soldiered on through another year of the COVID-19 pandemic, as staff, customers, employers and partners all negotiated staff absences, working from home arrangements, preventative measures and worker shortages. These worker shortages and the suspension of immigration, continued to provide increased employment opportunities across Australia. As a result, Workskil Australia placed record numbers of job seekers into work this financial year.

The financial year was also a significant procurement year for Workskil Australia, as we tendered for a substantial part of our business, with the introduction of Workforce Australia. Workskil Australia achieved a strong result through this process, with the organisation, from July 2022, now the largest not-for-profit employment service provider and the second largest Workforce Australia provider in Australia. It is a credit to our staff for their commitment and care that we have achieved this great outcome. However, it was not without losses as we closed our doors in some regions across New South Wales and Victoria, and in the process we lost dedicated staff.

The year was one of planning, preparation and change. The organisation worked through a ‘whole of staff’ restructure, recruitment of 250 additional staff, closed and opened new sites, new branding, new training and new systems as we transitioned staff, customers and employers to these new services.

Despite a rapidly changing environment, we continue to proudly deliver high quality employment and community services, with our values at the heart of all we do. We are focussed and working hard to tackle cost of living pressures, insecure work and housing challenges for our customers moving forward.

We thank our Board, staff, customers, employers and all of our stakeholders for their continued support. We also farewell two long standing Board Members this year and we thank Toula Tsamandanis and Jenni Ma for their expert and loyal support over many years. Particularly, Toula who has had been involved with Workskil Australia for 24 years as both an employee and Board Member. We thank you both for your support for Workskil Australia and wish you well for your future endeavours.

Nicole Dwyer Alex Zimmermann CHIEF EXECUTIVE OFFICER CHAIRPERSON

Workskil Australia exists to support Australians doing it tough, to achieve economic and social independence. After a year of strong performance, we have helped even more Australian’s to achieve these goals.

Our Board

Dr Sam Wells BOARD MEMBER

Sam graduated from The University of Adelaide with 1st Class Honours in History. As South Australia’s 1979 Rhodes Scholar, he completed his doctorate at Oxford in 1983. Sam spent 18 years in corporate human resource management and organisational development. He established his own consulting business in 2001. From 2005 to 2021, he was a Senior Lecturer in the Business School, University of Adelaide, where he filled various leadership roles, including Academic Director of the MBA program and Director of the Yunus Social Business Centre. He still serves as an Adjunct Senior Lecturer. Sam is a member of the Governance Committee of Workskil Australia.

Mr Alex Zimmermann

CHAIRPERSON

Alex is Workskil Australia’s longest serving Board member. He is a retired member of the South Australia Police, having served as a senior manager in a diverse number of positions, including Officer in Charge of the State Community Engagement Section, Major Fraud Investigation, Electronic Crime Branch and the Barossa Local Service Area. He has also been the Local Recovery Coordinator for the communities impacted by the bushfires of 2019 in the Adelaide Hills. Alex is also the Chairperson of the Police Credit Union and has previously served as the Deputy Chairman of Regional Development Australia (Barossa) and as a Councillor with the City of Marion.

Alex is a Fellow of the Australian Institute of Company Directors, Fellow of the Governor’s Leadership Foundation and holds a Graduate Certificate in Business Administration. Alex chairs the Governance Committee of Workskil Australia.

Robert is an experienced Chartered Accountant and principal of Ferguson Hannam, Chartered Accountants, specialising in restructuring and forensic accounting. In addition to holding a Bachelor of Commerce, Robert is a Fellow of Chartered Accountants Australia and New Zealand, a Registered Liquidator, Trustee in Bankruptcy, Tax Agent and a Graduate member of the Australian Institute of Company Directors (AICD). Robert chairs the Audit and Risk Committee of Workskil Australia.

Ms Jennifer Ma BOARD MEMBER

Jennifer is the Managing Director of Chapman Capital Partners, a boutique corporate advisory firm specialising mid-market business divestments, acquisitions and capital raisings. Jennifer is a Chartered Accountant and holds a Bachelor of Commerce and Graduate Diploma in Applied Finance. Jennifer was a former Partner within KPMG’s Corporate Finance division and has worked with a broad range of clients across private businesses, public companies and government. In addition to her Board role with Workskil Australia, Jennifer is also a Board Member of ECH, the Jam Factory and Service FM. Jennifer is a member of the Audit and Risk Committee of Workskil Australia.

Ms Toula Tsamandanis BOARD MEMBER

Toula is the Executive Manager of a privately owned pharmacy group under the Terry White Chemmart Banner, responsible for providing Management, Human Resources and Marketing support. Toula has an Honours Degree in Psychology and a Graduate Certificate in Management. Toula has had over 20 years of involvement with Workskil Australia in a variety of senior roles and held Board positions at various times. Toula is a member of the Governance Committee of Workskil Australia.

Taso Corolis joined Bendigo and Adelaide Bank in 2011 and is the Group Chief Risk Officer. Prior to his current role, Taso had responsibility for risk analytics, reporting and risk governance within Group Risk. He joined the Bendigo and Adelaide Bank Group from Rural Bank, where he served as the Executive in charge of Risk for a number of years. Taso has over 20 years’ experience in the financial services industry. This includes ten years in senior roles with the Australian Prudential Regulation Authority (APRA). He holds degrees in Economics and Commerce and postgraduate qualifications in Finance and Investments. Taso is a member of the Audit and Risk Committee of Workskil Australia.

Nicole is the CEO of Workskil Australia and has been in the role since 2012. Previously Nicole worked at KPMG for eight years, providing advisory services to the government and not-for-profit sectors in employment, education and Indigenous affairs. Nicole has a Masters of Business Administration, a Masters of Social Science, a Graduate Diploma of Education and a Bachelor of Science (Psychology).

We would like to thank our Board Members for their ongoing efforts and commitment throughout the 2021/2022 financial year. They bring a diverse array of skills and experience to help lead Workskil Australia.

Mr Robert Ferguson DEPUTY CHAIRPERSON

Mr Taso Corolis BOARD MEMBER

Ms Nicole Dwyer BOARD MEMBER AND CEO

Pauline’s Story

Hospitality job provides Pauline with more than just a pay packet.

For Pauline, the social connection she feels at work provides even greater personal reward than the weekly pay packet. “Having this job has changed my life in so many ways. I’ve got my confidence back and I feel valued again. I get very emotional just thinking about it,” Pauline said. However the road to employment for this 47-year-old mother has been particularly challenging. Pauline spent 15 years away from the workforce while looking after her two young children and has overcome significant personal barriers along the way to finding a job where she feels valued. “I’ve been through a lot in my life, it hasn’t been easy,” she said. With the help of Workskil Australia, Pauline undertook counselling and digital skills training before securing a paid work trial with popular Norwood café, Argo

on the Parade, in South Australia. Her enthusiasm and initiative impressed her colleagues and earlier this year she was offered a permanent position as a café assistant. “This job has restored my trust in people. I’ve come out of my shell since working here and feel really positive about where my life is going. My kids have also noticed the difference in me,” Pauline said. Her team leader at Argo, Julie DeIonno said staff recruitment was a challenge and she looked for people who could work well in a team. “In all the years of training I have never come across a person like Pauline. She really appreciates having a job and thanks me many times during the day for teaching her certain tasks,” Julie said. Workskil Australia is proud to assist Pauline and many others everyday.

Our Year

Governance

Workskil Australia is made up of Workskil Australia Incorporated and its wholly-owned subsidiary, Workskil Australia Limited, both of which are governed by the same Board Members. Both entities are registered notfor-profits and registered charities, which deliver a range of programs, with the purpose of supporting disadvantaged Australians to achieve sustained economic and social selfreliance. From 1 July 2022 all service delivery and business operations are now delivered by Workskil Australia Limited. Operating as a Company Limited by Guarantee ensures that we uphold the highest standards of corporate governance, thereby best advancing the interests of customers and stakeholders for years to come.

The Executive team is made up of the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Chief Information Officer, Chief People Officer, Business Performance Manager, General Counsel, National Business Development Manager, National Operations Manager and three State Managers. We have a range of robust systems in place to ensure compliance with all regulatory laws and funding agency requirements and to maintain a number of ongoing quality and information security accreditations.

Environment

Workskil Australia has commenced its journey to become carbon neutral. The organisation is committed to improving the environment it operates in by reducing carbon emissions, minimising pollution and ensuring the sustainable use of natural resources. Workskil Australia leased its first Hybrid vehicles during the year as it commences transitioning its fleet.

The electricity supplier continues to be Momentum Energy, which sources energy from Hydro Tasmania. Caring for our environment is seen as an extension of our commitment to the health of our social environment, which is at the heart of our vision and mission.

Strategic Plan

This year, with consultation from the Board and other stakeholders, Workskil Australia delivered its Strategic Plan 2022-2025. This document articulates our vision, mission and strategic objectives for the next three years. It also recognises the increasingly complex environment we operate within and tracks a clear and agreed path forward for our organisation.

New Contracts

During the year, the organisation was solely focused on preparing, tendering and implementing the new Workforce Australia Employment Services model. Workskil Australia was advised in March 2022 of the results, and was successful nationally in securing:

> Workforce Australia services in 10 regions.

> Workforce Australia Specialist services in 2 regions.

> Workforce Australia Transition to Work services in 6 regions.

> Workforce Australia Career Transition Assistance services in 5 regions.

This has required the organisation to transition every aspect of our day-to-day working, which was a massive undertaking by the organisation. This resulted in a significant transformation with the opening and closing of new sites across Australia and a whole staff restructure.

Miranda’s Story

Wheels are moving for Miranda’s Career.

When Workskil Australia Aboriginal customer, Miranda, first started her employment journey, she was excited to work, especially in a trade. However, she was unsure which pathway to take in order to achieve this. At just 19 years old and with limited relevant experiences, Miranda needed support to upskill and guidance to help start a new career. Miranda’s Workskil Australia support team placed her in a PEER Pre-Apprenticeship Program. This not only helped her gain skills but also knowledge on the many employment pathway options she could take.

After completing the course, Miranda was eager to start an apprenticeship and get some on the job experience.

Her Workskil Australia team helped to update her resume and started to contact employers to match her with suitable opportunities. Workskil Australia was able to secure Miranda an interview with the Motor Trade Association (MTA), and

helped to prepare and guide her through this process. Miranda and her Workskil Australia team were thrilled when she landed a position as a Heavy Plant Diesel Mechanic Apprentice at Adelaide Crane Maintenance, an MTA host provider.

MTA supported Miranda throughout her apprenticeship, providing in person mentoring through a dedicated Field Officer, as well as training, personal protective equipment and a tool kit on commencement. More than six months on, and Hayden, the director of Adelaide Crane Maintenance explains that, “Miranda has come a long way since she started. Initially Miranda was exceptionally shy but now she is excelling and able to complete jobs and tasks by herself”. Miranda has really enjoyed her role. “I love the physical activity and learning more about how things work –but most of all, I really like seeing myself improve on a daily basis.”

Highlights From Our Year Reducing Recidivism

The successful Work Ready, Release Ready Program continued throughout this year, supporting South Australian Government to achieve a ten percent reduction in recidivism, and one of the lowest rates across Australia.

One of the most successful programs to date has been Work Ready, Release Ready delivered in partnership with the Department for Correctional Services and Workskil Australia. The partnership has seen more than 1,000 participants since its inception.

- Vincent Tarzia, 10by20 Progress Report, 2021 Update

South Australian Governor’s Multicultural Awards

These awards recognise outstanding contribution to those who promote multiculturalism and increase the understanding of the benefits of cultural diversity in our community. Workskil Australia was proud to be awarded the ‘Community Award’ which recognises our support for migrants and refugees. Our focus has been to place them in sustainable work which in turn helps with their economic and social self-reliance.

Renewal Of Adelaide Crows AFLW Sponsorship

Workskil Australia is incredibly proud to stand alongside the Adelaide Football Club and continue our support of this amazing team of sportswomen. Our sponsorship extension came on the eve of Season Seven, with premiership player Stevie-Lee Thompson taking on a new ambassador role to mentor and inspire young and disadvantaged job seekers. The sponsorship provides opportunities to build our brand awareness through on and off ground logo coverage, PR opportunities and events.

Expanding Our Service Footprint

With the success of the new Workforce Australia contracts, Workskil Australia has expanded its operational footprint to new locations. We welcomed staff and sites in Maroubra, NSW, Kadina SA, Port Pirie SA, Bunbury WA and Busselton WA. We look forward to delivering our services to these important new communities.

Work Watch Reports Launched

We started Work Watch - our own publication, to provide unique insights into the current labour market trends in Australia. Each edition has received excellent public relations opportunities with the report being cited across The Australian, ABC Radio, Sydney Morning Herald, The Advertiser and Herald Sun. We care about the challenges our customers face, and this publication helps to share their experiences to bring a voice to their collective story.

Road To Redemption Program Recognised

The SA Department for Correctional Services recognised Workskil Australia and Carey Training for the delivery of the innovative Road to Redemption program, with a Community Partnerships Award. This program skills Aboriginal Ex-Offenders with accredited construction training, licenses and tickets and has been extremely successful, with the second program delivered during late 2021. Workskil Australia will expand delivery of this great program for Ex-Offender job seekers across the country.

Industry Bites -Work Tasters for Young People

Many young people who attend Workskil Australia have never undertaken any form of work experience or paid work. The workplace for many is considered extremely foreign. Workskil Australia undertook a trial program, Industry Bites this year, which involved young people undertaking a range of employer tours with their Coaches on a day, seeing a range of different job roles in action, understanding application processes, and gaining practical understanding of skills and attributes sought. Due to the success of this pilot, which was partly funded by the South Australian Commissioner for Young People, we have now rolled this concept out nationally to job seekers and school students.

Geared 4 Work

It can be lengthy and expensive to get a driver’s licence which is often a basic requirement for many jobs. With support from the Brotherhood of St. Lawrence and the Paul Ramsey Foundation we launched Geared 4 Work in September 2021 to support young job seekers obtain their log book hours. It’s been an initiative that has seen many young people gain that essential driving experience they need to become a safer and more confident driver.

Josh

Josh gets hands-on with full-time traineeship.

A full-time traineeship has provided Josh with greater financial freedom and a clear career pathway within a growth industry. Josh landed the role with South East Conveyors where he is learning the trade of belt splicing - the process of lengthening or repairing a conveyor belt. With the help of his Workskil Australia Employment Consultant, Josh successfully applied for a position that has him in a workshop one day and on a remote mining site the next. “I was unemployed for about a month before this opportunity came up,” Josh said. “Workskil Australia helped me with training in confined spaces and working at heights and that made my transition to this job much easier.” For Josh, a traineeship was a great way to start earning money right away while also building real work experience. “I enjoy working at different sites and it’s great having the freedom to buy the things I want,” he said. “I think traineeships

provide a fantastic opportunity for young people to get started on their career.”

Josh’s manager at South East Conveyors said the 21-year old’s dedication to learning and application to the job at hand was impressive. “The key trait we look for in hiring new people is a willingness to have a fair crack, learn and work hard on the job. The work is physically demanding so every team member needs to give it their all. Josh has come a long way in a short time. He has a good understanding of safety and site regulations and has shown real progression in his role.” There is currently a major shortage of belt splicers in Australia across metropolitan and mining areas. “The work conditions for belt splicers can be challenging, but we are in high demand all over Australia.”

Josh’s future is bright and optimistic. Workskil Australia is proud to have supported Josh into his new role and we wish him well for the future.

Our Reconciliation Journey

Marni Naa pudni – ‘Welcome everyone’ in Kaurna language. Whilst our organisation was founded on Kaurna lands, we operate across 27 other Aboriginal Nations across Australia.

Workskil Australia continued its reconciliation journey this year, with the approval of the 2nd Workskil Australia Reconciliation Action Plan – Innovate 2022-2024 We continue to improve on our achievements in cultural competency, employment of Aboriginal and Torres Strait Islander staff which is currently 3.7% and increased use of Indigenous Suppliers to our business.

Our RAP Committee of dedicated staff, continue to focus on supporting our staff, employers and customers reconciliation journey and do so with enthusiasm and pride.

Information Security, Quality and Safety

Marni naa pudni

‘Welcome everyone’ in Kaurna language

Workskil Australia placed 3,400 Aboriginal and Torres Strait Islander participants into employment in the FY 21/22, and this is something our business is extremely proud of. We continue to deliver specialised Indigenous recruitment, mentoring and cultural intelligence training nationally and we proudly partner with some of the largest businesses in Australia on this important task.

Workskil Australia has continued to maintain a range of quality standards, to ensure we maintain the highest standards of governance, safety and security across our business.

COVID provided our largest safety challenge throughout the year, as we implemented a range of measures to keep our customers, staff and employers safe throughout. It has been a credit to our staff and customers for the stoic way they flexed and changed our business practices throughout the year to meet ever changing requirements.

Workskil Australia successfully maintained all externally certified quality accreditations throughout the year, including:

> ISO 27001: 2013 Information Security management

> ISO 9001: 2015 Quality Management Systems

> National Standards for Disability Services

> Department of Employment and Workplace Relations’ (DEWR) Quality Assurance Framework

> DEWR Right Fit for Risk Accreditation (Information Security).

Workskil Australia also continues to adhere to the National Principles for Child Safe Organisations, across all of its services.

Phil

New life begins at 50 for Phil.

Turning 50 is more than just a milestone birthday for Phil - it represents a major turning point in his life. With both a home and a job for the first time in a decade, the Adelaide security guard feels he has rediscovered his purpose in life. “I didn’t think I’d make 50,” Phil says. “I’ve had a lot of challenges in my life but I feel like I now have a purpose.” Employed by KM Corporate Security, Phil is working at two major metropolitan hospitals in Adelaide in a role that sees him looking after the safety of patients and staff. He also has permanent accommodation and is on his way to obtaining a driver’s licence. Getting to this point has been a long and difficult journey for Phil who has experienced homelessness and unemployment along the way. “I originally worked in the furniture industry. However my wife passed away nine years ago and my life was turned upside down,” Phil says. “I hit the bottle, struggled with depression

and anxiety and couldn’t find work. I was in financial trouble and lost my home a few years back. “It was very hard to afford rental accommodation and I relied on mates to provide me with a spare bed. Not having a place of your own makes it very hard to do the everyday things people take for granted like washing clothes and storing personal items. That all makes it really hard to find and hold down a job.” Workskil Australia was able to support Phil to gain his Certificate II in Security operations as well as providing other assistance like food vouchers, bus tickets and driving lessons. After successfully completing his security training, and with 10 years without work, Phil was offered employment at KM Corporate Security. Now with a job, a home and a pay packet, he has a renewed outlook on life. “I now have something to look forward to every day,” he says.

There’s A Story Behind All That We Do

We are privileged to deliver a range of programs that help Australians across the country.

These programs are:

> Workforce Australia Services

> Workforce Australia Services

– Specialist

> Workforce Australia Services

– Transition to Work

> Workforce Australia Services

– Career Transition Assistance

> Disability Employment Services

> ParentsNext

> Work Ready, Release Ready

> Work for the Dole

> Flexible Learning Options

> Job Placement Services

> Time to Work Employment Services

> Geared 4 Work (Driver mentorship program)

> Post Placement Support

> Employer Support

The staff who are responsible for delivering these programs are supported by a dedicated team of Corporate and Allied Health Services.

These programs are tailored to the needs of different customer groups, who are diverse in their backgrounds and demographics but have one thing in common: they want to find sustainable employment or to take the next steps to doing so.

During the 2021/22 financial year, we supported:

9,709 Indigenous Australians

17,446 young people (aged under 25)

17,209 culturally and linguistically diverse people

5,037 people who identify as refugees

10,250 ex-offenders

67 school students who were at risk of disengaging with their education

What’s behind those smiles?

5% of our staff identify as Aboriginal or Torres Strait Islander

193 193 staff members (30% of our team) were born in countries other than Australia

26,798 mature aged people (over the age of 45)

20,706 people with disability, illness or injury

8,105 people experiencing homelessness

44 different languages are spoken by our staff

12% of our staff are 55 years or older

Demonstrating that diverse workplaces can lead to good staff retention, 130 staff members have been with us for more than five years, our longest serving staff member has been with us for 24 years and almost 35% of our staff have been with us over three years.

Our employee value proposition goes beyond just a salary. We understand that values, teamwork and support help keep our staff engaged and passionate.

8% of our staff are under the age of 25

To further provide the support our staff need, we continue to implement a 9-day working fortnight, called our ‘Wellbeing Day’ model. We know that life can be challenging and that work is a significant part of every person’s identity. But we also know that it isn’t the only part and we want to continue to be at the forefront, providing the best opportunities for our staff to look after themselves and actively practise work-life balance.

Jared

Jared’s gearing up to get his licence.

Obtaining your driver’s licence can be lengthy and expensive. Our young job seekers are usually low-income earners with limited access to a vehicle or supervised driver support. Workskil Australia identified that these were significant barriers which ultimately impacted young peoples’ ability to secure employment.

Geared 4 Work was created to alleviate this financial pressure and assist young people, under 25, to achieve supervised log book hours in order to get their licence. Supported by the Brotherhood of St. Laurence and the Paul Ramsay Foundation, Geared 4 Work is a free program that has just been expanded to all of our service areas. Since its launch in September 2021, Geared 4 Work has already supported over 70 job seekers with their log book hours, all at different stages of their learning-to-drive journey.

One of our job seekers who is keen to get his licence is Jared. Having recently landed a role in hospitality and about to embark on university studies, Jared is hoping that his licence will assist him to be flexible and dependable with his working hours and study commitments. At 20 years old, Jared has limited access to a vehicle and is not in a financial position to be able to self-fund professional driving lessons in order to complete his required hours. Jared says “Geared 4 Work helped me save money, I now don’t have to pay for as many driving lessons”. He also states that, “having my licence will help greatly if I am needed to cover an emergency shift, I can come right away, or something simple as being the last to close shop, I have a way to get home more safely”. With over 15 appointments already completed through the Geared 4 Work program, Jared is well on his way to achieving his goal of getting his licence and becoming more independent.

Thank You

As a not-for-profit and registered charity we exist to support those in need. We are proud to deliver a broad variety of services to assist our customers, but can’t do this without the support of a range of partners. This includes training providers, recruitment companies, labour hire organisations, apprenticeship centres, medical and allied health providers, Indigenous organisations, Work for the Dole host organisations, and secondary schools.

Financial Report

For the year ended 30 June 2022

Most of all, we thank our employer partners. Each employer supports the journey of our customers to change their lives; providing opportunities to gain employment.

As a not-for-profit and charity, we rely on funding to enable us to fulfil our purpose.

Thank you to the following departments and funders:

> Australian Government Department of Employment and Workplace Relations

> Australian Government Department of Social Services

> South Australian Government Department for Education

> South Australian Government Department for Correctional Services

> Return to Work SA

To all of these stakeholders, thank you for your ongoing support. Never has it been more needed and appreciated.

27 Consolidated statement of profit or loss and other comprehensive income

28 Consolidated statement of financial position

29 Consolidated statement of changes in equity

30 Consolidated statement of cash flows

31 Notes to the consolidated financial statements

45 Statement by the members of the board

46 Auditors independence declaration

47 Independent auditors report

Workskil

Australia Inc. and its controlled entity

ABN 89 252 074 692 General purpose (SDS) financial report for the year ended 30 June 2022

Consolidated statement of profit or loss and other comprehensive income

For the year ended 30 June 2022

The above consolidated statement of profit or loss and other comprehensive income should be read in conjunction with the accompanying notes.

Workskil Australia Inc. and its controlled entity

Consolidated statement of financial position

The above consolidated statement of financial position should be read in conjunction with the accompanying notes.

Consolidated statement of changes in equity

For the year ended 30 June 2022

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

Consolidated statement of cash flow s

For

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements

For the year ended 30 June 2022

1 Significant Accounting Policies

These general purpose financial statements have been prepared in compliance with the requirements of the Australian Charities and Not-for-profits Commission Act 2012 and Australian Accounting Standards - Simplified Disclosures to satisfy the financial reporting requirements of the Associations Incorporation Act (SA) 1985 Workskil Australia Inc. and its controlled entity (W orkskil Australia Limited) are both not-for-profit entities for the purpose of preparing these consolidated financial statements

The consolidated financial statements have been prepared on an accruals basis and are based on historical costs and do not take into account changing money values or, except where specifically stated, current valuations of non-current assets.

Workskil Australia Inc. is an incorporated association, incorporated and domiciled in Australia. The financial report covers Workskil Australia Inc. and Workskil Australia Limited as a consolidated entity ("W orkskil Australia").

The financial report was authorised for issue by the Members of the Board on 31 October 2022

1.1 Changes in Accounting Policies and Disclosures

New and amended standards and interpretations

The new and amended Australian Accounting Standards and Interpretations that apply for the first time in 2022 do not materially impact the consolidated financial statements of Workskil Australia

Workskil Australia has opted to adopt AASB 1060 General Purpose Financial Statements - Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities Other than the change in disclosure requirements, the adoption of AASB 1060 has no significant impact on the consolidated financial statements because Workskil Australia’s previous consolidated financial statements complied with Australian Accounting Standards - Reduced Disclosure Requirements.

Accounting Standards and Interpretations issued but not yet effective

Certain Australian Accounting Standards and Interpretations have recently been issued or amended but are not yet effective and have not been adopted by Workskil Australia for the annual reporting year ended 30 June 2022 Workskil Australia intends to adopt these new and amended standards and interpretations when they become effective.

The following significant accounting policies, which are consistent with the previous period unless otherwise stated, have been adopted in the preparation of this financial report.

a) Going Concern

The financial report has been prepared on a going concern basis, which assumes continuity of normal business activities and the realisation of assets and settlement of liabilities in the ordinary course of business.

Extensive financial modelling has been performed to forecast its cash position up to 12 months from the date of the consolidated financial statements and in reasonably possible scenarios, Workskil Australia is confident it will continue to operate as a going concern.

b) Principles of Consolidation

Controlled entities are those entities Workskil Australia Inc. has the power to govern the financial and operating policies so as to obtain the benefits. All intergroup transactions are eliminated in full on consolidation.

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

1 Significant Accounting Policies (continued)

c) Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost or fair value less, where applicable, any accumulated depreciation or amortisation.

Property

Freehold land and buildings are shown at their fair value (being the amount for which an asset could be exchanged between knowledgeable willing parties in an arm’s length transaction), based on periodic, but at least triennial, valuations by external independent valuers, less subsequent depreciation for buildings. The most recent valuation was conducted in April 2022.

Increases in the carrying amount arising on revaluation of land and buildings are credited to a revaluation reserve in equity. Decreases that offset previous increases of the same asset are charged against fair value reserves directly in equity. All other decreases are charged to the consolidated statement of profit or loss and other comprehensive income

Any accumulated depreciation at the date of revaluation is eliminated against the gross carrying amount of the asset and the net amount is restated to the revalued amount of the asset.

Plant and Equipment

Plant and equipment is measured on a cost basis. Plant and equipment consists of information technology, office furniture, motor vehicles and equipment.

The carrying amount of plant and equipment is reviewed annually by Workskil Australia to ensure it is not in excess of the recoverable amount from those assets. The recoverable amount is assessed on the basis of the expected net cash flows which will be received from an asset's employment and subsequent disposal. The expected net cash flows have not been discounted to present values in determining recoverable amounts.

Depreciation

The depreciable amount of all fixed assets are depreciated on a straight line basis over an asset's useful life to Workskil Australia, commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful life of the improvement.

The depreciation rates used for each class of depreciable asset are as follows:

d) Intangible Assets

Acquired Intangible Assets

Acquired computer software licences are capitalised on the basis of the costs incurred to acquire and install the specific software. These were previously included in property, plant and equipment.

Amortisation

Once the software is installed and ready for use, it will be amortised over the useful life to Workskil Australia

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

1 Significant Accounting Policies (continued)

e) Leases

Workskil Australia recognises right-of-use assets and corresponding lease liabilities at the commencement date of the lease. The right-of-use assets are initially measured at a value equal to the lease liability, adjusted for any initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Subsequently, the right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. The right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term.

At the commencement date of the lease, Workskil Australia recognises lease liabilities measured at the present value of lease payments to be made over the lease term. In calculating the present value of lease payments, Workskil Australia uses the mid-point of the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. Subsequent to initial measurement, the amount of lease liabilities are increased to reflect the accretion of interest and reduced for the lease payments made. The carrying amount of the lease liability is remeasured if there is a modification, a change in the fixed lease payments or a change in the assessment to purchase the underlying asset.

Workskil Australia applies the lease of low-value assets recognition exemption to leases of office equipment that are considered of low value (below $5,000). Lease payments on leases of low-value assets are recognised as expenditure on a straight-line basis over the lease term.

f) Employee Entitlements

Provision is made for Workskil Australia’s liability for employee entitlements arising from services rendered by employees to reporting date. Employee entitlements expected to be settled within one year together with entitlements arising from wages and salaries and annual leave which will be settled after one year, have been measured at their nominal amount. Other employee entitlements payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements. No provision has been made for employees' accrued sick leave.

Contributions made by Workskil Australia to an employee superannuation fund are charged as expenses when incurred.

Long service leave entitlements for Victorian based employees providing direct services to customers are levied and administered by the Portable Long Service Authority, effective 1 July 2019.

g) Cash and Cash Equivalents

For the purposes of the consolidated statement of cash flows, cash and cash equivalents includes cash at bank and on deposit.

h) Prepayments

Prepayments are carried at amortised cost and represent goods and services paid for the services paid for by Workskil Australia prior to the end of the financial year that have not been provided.

i) Impairment of Non-Financial Assets

At each reporting date, Workskil Australia reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and its value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the profit or loss.

Where the future economic benefits of the asset are not primarily dependent upon the asset's ability to generate net cash inflows and when Workskil Australia would, if deprived of the asset, replace its remaining future economic benefits, its value in use is the depreciated replacement cost of an asset.

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

1 Significant Accounting Policies (continued)

i) Impairment of Non-Financial Assets (continued)

Where it is not possible to estimate the recoverable amount of a class of asset, Workskil Australia estimates the recoverable amount of the cash-generating unit to which the asset belongs.

j) Revenue in Advance

Monies received in respect of services to be provided by Workskil Australia at a future date is treated as revenue of Workskil Australia in the year during which the services are provided. Monies received in advance for services yet to be provided, have therefore not been treated as revenue in the current year and have been recorded as liabilities in the consolidated statement of financial position. The anticipated costs of earning this revenue have not been accrued except to the extent that they have been incurred at the date of these accounts.

k) Unexpended Grants

Workskil Australia receives grant monies to fund projects either for contracted periods of time or for specific projects irrespective of the period of time required to complete those projects. It is the policy of Workskil Australia to treat grant monies as unexpended grants in the consolidated statement of financial position where Workskil Australia is contractually obliged to provide the services in a subsequent financial period to when the grant is received or in the case of specific project grants, where the project has not been completed.

l) Goods and Services Tax (GST)

Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances, the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the consolidated statement of financial position are shown inclusive of GST. The net amount of GST recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position

m) Interest Revenue

Interest revenue is recognised on a proportional basis taking into account the interest rates applicable to the financial assets.

n) Revenue from Contracts with Customers

Workskil Australia derives revenue from contracts, predominantly with the Australian Government or Government related entities, to provide various services to assist clients into employment. The major components of those revenues are:

Administration and Support Fees

Revenue from administration and support fees is recognised over time in the service period when services are rendered. Providing the administration and support service for an agreed period of time for each client is considered to be a single distinct performance obligation. Where the fee has been received prior to or during the service period, the amount is included in unearned revenue.

Outcome and Placement Fees

Revenue from outcome and placement fees is recognised at the point in time in which the outcome or placement has been achieved. This is considered to be a single distinct performance obligation for each client that reaches an employment milestone. At the point of satisfying the performance obligation, revenue is included as accrued revenue until it is received.

Grant Revenue

Contributions and grants are recognised when control of the contribution or the right to receive the contribution is obtained, it is probable that the economic benefits will flow to Workskil Australia and the amount of the contribution can be measured reliably.

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

1. Significant Accounting Policies (continued)

n) Revenue from Contracts with Customers (continued)

Reimbursable Expenditure

In the course of delivering services, Workskil Australia incurs certain disbursements for clients and seeks reimbursement in accordance with the relevant contract with no profit margin. Workskil Australia has determined it acts as an agent in these transactions as it has no discretion in establishing the price for the specified good or service, has limited inventory risk and is not responsible for fulfilling the promise to deliver the good or service. As there is no margin, no net revenue is recognised in the consolidated financial statements where Workskil Australia is considered to be acting as an agent.

o) Financial Instruments

Recognition and initial measurement

Financial instruments, incorporating financial assets and financial liabilities, are recognised when Workskil Australia becomes a party to the contractual provisions of the instrument.

Trade date accounting is adopted for financial assets that are delivered within time frames established by marketplace convention.

Financial instruments are initially measured at fair value plus transactions costs where the instrument is not classified at fair value through profit or loss. Transaction costs related to instruments classified as at fair value through profit or loss are expensed to profit or loss immediately. Financial instruments are classified and measured as follows.

Classification and subsequent measurement

Trade and other receivables

Trade and other receivables are non-derivative financial assets with fixed or determinable payment dates that are not quoted in an active market and are subsequently measured at amortised cost using the effective interest rate method.

Trade and other payables

Trade and other payables are carried at amortised cost and represent liabilities for goods and services provided to Workskil Australia prior to the end of the financial year that are unpaid and arise when Workskil Australia becomes obliged to make future payments in respect of the purchase of these goods and services.

2 Significant Accounting Judgements, Estimates and Assumptions

The preparation of the consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts in the consolidated financial statements Management continually evaluates its judgements and estimates in relation to assets, liabilities, contingent liabilities, revenue and expenses. Management bases its judgements, estimates and assumptions on historical experience and on other various factors, including expectations of future events, management considers to be reasonable under the circumstances.

Notes to the consolidated financial statements (continued)

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise the above.

Notes to the consolidated financial statements (continued)

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

8. Intangible Assets

Workskil Australia's land and buildings were revalued in April 2022 by independent valuers. The valuation was prepared on the basis of capitalisation of net revenue. The revaluation increment was credited to the asset revaluation reserve in equity. Refer to Note 1(c) for the accounting policy.

The land and buildings consist of a strata unit within a group of four units and a common car parking area on the strata site.

9. Leases

Workskil Australia as a lessee

Workskil Australia has lease contracts in place for various properties, motor vehicles and photocopiers. Property leases have been negotiated or entered into in accordance with the successful regions for key funding contracts and comprise lease terms between 1 and 3 years excluding extension options. In a majority of cases, initial lease terms of 3 years have been used, representing the date when both parties have the ability to exit the contract without significant financial penalty, which is aligned with the first contract review date at 30 June 2025. Motor vehicle and photocopier leases have corresponding lease terms aligned to the respective funding contract review dates.

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

9. Leases (continued)

Workskil Australia as a lessee (continued)

Set out below are the carrying amounts of right-of-use assets and the movements during the year:

*Disposals relate to early exit of lease. Presented below is a maturity analysis of future lease payments:

The amount of expense relating to short-term leases and leases of low-value assets recognised in profit or loss during the year ended 30 June 2022 was $154,458 (2021: $135,584).

10. Trade and Other Payables

The significant decrease in revenue in advance is due to the cessation of the jobactive and New Employment Services Trial on 30 June 2022

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

12. Provisions

Provision for long service leave

A provision has been recognised for employees entitlements relating to long service leave for employees.

In calculating the present value of future cash flows in respect of long service leave, the probability of long service leave being taken is based upon historical data. The measurement and recognition criteria for employee entitlements has been included in Note 1.1(f).

Make good provision

A provision has been made for the present value of anticipated costs of future restoration of leased premises. The provision includes future costs estimates associated with returning the premises to their original condition. The calculation of this provision requires assumptions such as expected lease expiry dates and cost estimates.

Provision for repayment of funding

During the financial year, the funding body identified an overpayment in funding. Whilst the majority has been recovered, the provision reflects the outstanding amount at year end.

Movements in provisions

leave PAGE 14 GENERAL PURPOSE (SDS) FINANCIAL REPORT WORKSKIL AUSTRALIA INC. AND ITS CONTROLLED ENTITY GENERAL PURPOSE (SDS) FINANCIAL REPORT | PAGE 15 WORKSKIL AUSTRALIA INC. AND ITS CONTROLLED ENTITY

Make good lease provision Repayment

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

13. Reserves

The asset revaluation reserve records revaluation adjustments of land and buildings.

14. Related Party Disclosures

During the year ended 30 June 2022, the Board Members received honoraria totalling $113,014 (2021: $147,117).

Board Members

Board Members who held office during the year:

Mr A Zimmermann Mr R Ferguson

Dr S Wells Ms T Tsamandanis

Ms J Ma Mr A Corolis

Ms N Dwyer

No other related party transactions occurred during the financial year ended 30 June 2022 (2021: $nil).

Compensation of key management personnel of the Group

Compensation expense of key management personal amounted to $2,897,175 during the year ended 30 June 2022 (2021: $2,404,874).

15. Commitments and Contingencies

Commitments

As at 30 June 2022, Workskil Australia had commitments of $130,500 (2021: $130,500) solely relating to the performance guarantee for the North West Melbourne Parents Next contract.

Contingent liabilities

There were no contingencies as at the reporting date which would have a material effect on Workskil Australia's consolidated financial statements as at 30 June 2022 (2021: $nil).

16

Economic Dependency

The extent to which Workskil Australia will be able to continue the provision of services is dependent on government policy.

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

17. Events after the Reporting Period

From 1 July 2022, Workskil Australia Limited has been successful in securing the funding contracts for Workforce Australia across 8 regions, replacing the current jobactive and Transition to Work programmes that were previously serviced by Workskil Australia Inc. New employment contracts were executed between Workskil Australia Limited and all except one employee by 30 June 2022. Workskil Australia Limited will become the operating entity for all contracts from 1 July 2022.

There were no other significant events occurring after the reporting period which may affect either Workskil Australia's operations or results of those operations or Workskil Australia's state of affairs.

18 Controlled Entity

Workskil Australia Inc. is considered to control Workskil Australia Limited as it controls over half of the voting rights through the same composition of Board Members.

Workskil Australia Limited is an unlisted public company limited by guarantee, registered and domiciled in Australia. Workskil Australia Limited was registered on 4 February 2014.

19. Information relating to Workskil Australia Inc. (the Parent)

Workskil Australia Inc. and its controlled entity

Notes to the consolidated financial statements (continued)

For the year ended 30 June 2022

19. Information relating to Workskil Australia Inc. (the Parent) (continued)

Commitments entered into by the Parent

As stated in Note 15, there are no commitments relating to the parent entity (2021: $nil).

Contingent assets and liabilities of the Parent

The directors are not aware of any contingencies that have arisen in respect of the Parent during the year (2021: $nil).

20. Auditor's remuneration

The auditor of Workskil Australia Inc. and its controlled entity is Ernst & Young (Australia)

received or due and receivable by Ernst & Young (Australia) for:

review of the financial report of Workskil Australia

Independent Auditor's Report to the Members of Workskil Australia Incorporated

Auditor’s Independence Declaration to the Board Members of Workskil Australia Incorporated

Auditor’s Independence Declaration to the Board Members of Workskil Australia Incorporated

In relation to our audit of the financial report of Workskil Australia Incorporated for the financial year ended 30 June 2022, and in accordance with the requirements of Subdivision 60-C of the Australian Charities and Not-for profits Commission Act 2012 , to the best of my knowledge and belief, there have been

In relation to our audit of the financial report of Workskil Australia Incorporated for the financial year ended 30 June 2022, and in accordance with the requirements of Subdivision 60-C of the Australian Charities and Not-for profits Commission Act 2012 , to the best of my knowledge and belief, there have been

a) no contraventions of the auditor independence requirements of any applicable code of professional conduct.

Opinion

Independent Auditor's Report to the Members of Workskil Australia Incorporated

We have audited the financial report of Workskil Australia Incorporated (the Association) and its controlled entity (collectively the Group), which comprises the consolidated statement of financial position as at 30 June 2022, the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, notes to the financial statements, including a summary of significant accounting policies, and the Statement by the Members of the Board.

Opinion

b) No non-audit services provided that contravene any applicable code of professional conduct.

a) no contraventions of the auditor independence requirements of any applicable code of professional conduct.

b) No non-audit services provided that contravene any applicable code of professional conduct.

Ernst & Young James Lawes Partner

31 October 2022

We have audited the financial report of Workskil Australia Incorporated (the Association) and its controlled entity (collectively the Group), which comprises the consolidated statement of financial position as at 30 June 2022, the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, notes to the financial statements, including a summary of significant accounting policies, and the Statement by the Members of the Board.

In our opinion, the accompanying financial report of the Group is in accordance with the Australian Charities and Not-for-Profits Commission Act 2012 , including:

a) giving a true and fair view of the consolidated financial position of the Group as at 30 June 2022 and of its consolidated financial performance for the year ended on that date; and

In our opinion, the accompanying financial report of the Group is in accordance with the Australian Charities and Not-for-Profits Commission Act 2012 , including:

b) Complying with Australian Accounting Standards – Simplified Disclosures and the Australian Charities and Not-for-profits Commission Regulation 2013.

a) giving a true and fair view of the consolidated financial position of the Group as at 30 June 2022 and of its consolidated financial performance for the year ended on that date; and

Basis for Opinion

b) Complying with Australian Accounting Standards – Simplified Disclosures and the Australian Charities and Not-for-profits Commission Regulation 2013.

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 Group in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (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.

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 Group in accordance with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (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.

Responsibilities of the board for the Financial Report

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

The members of the Board (“the Board”) of the Group are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards –Simplified Disclosures and the Australian Charities and Not-for-profits Commission Act 2012 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Responsibilities of the board for the Financial Report

The members of the Board (“the Board”) of the Group are responsible for the preparation of the financial report that gives a true and fair view in accordance with Australian Accounting Standards –Simplified Disclosures and the Australian Charities and Not-for-profits Commission Act 2012 and for such internal control as the directors determine is necessary to enable the preparation of the financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the financial report, the Board are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

In preparing the financial report, the Board are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

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.

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.

A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/auditors_responsibilities/ar3.pdf . This description forms part of our auditor’s report.

A further description of our responsibilities for the audit of the financial report is located at the Auditing and Assurance Standards Board website at: https://www.auasb.gov.au/auditors_responsibilities/ar3.pdf . This description forms part of our auditor’s report.

We communicate with the Board 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.

We communicate with the Board 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.

Adelaide 31 October 2022

Adelaide 31 October 2022

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