6.4 Statements of corporate intent

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In 1998, we published an article Statements of Corporate Intent: Are They Working?¹ That article set out our expectations of statements of corporate intent (SCIs), including recommending changes to some legislation governing SCIs. The article also reviewed, and found variable compliance with, the requirements for SCIs.

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We have completed a performance audit to update our 1998 article.² The performance audit examined the application of SCIs for the accountability of public entities and their governance by shareholders. As well as council-controlled organisations (including council-controlled trading organisations), the performance audit reviewed the way that selected port companies, energy companies, State-owned enterprises, and Crown Research Institutes complied with the legislative provisions for SCIs. The performance audit was primarily a "desk-based" documentation review.

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We also plan to do a further review to examine the relevance of SCIs for a sample of public entities. We will examine how they produce and report on SCIs and also identify any other accountability methods used or preferred to the role of the SCI.

1: Third Report for 1998, Parliamentary paper B.29[98c], pages 99-137.

2: Statements of corporate intent: Legislative compliance and performance reporting, ISBN 0-478-18185-x.