- Title page
- 1: Relationships, roles and responsibilities
- 2 : Appointing and maintaining an effective board
- 3: Participating in setting the expectations and direction for entities
- 4: How can your monitoring department assist you?
- Appendix 1: How Crown entities fit into the public sector
- Appendix 2: Information for Crown entity companies
Transparency of reporting
The enduring letter of expectations to Crown entities from the Ministers of Finance and State Services emphasises increasing transparency by Crown entities disclosing non-sensitive performance information throughout the year via their websites. During their regular interim performance reports to their responsible Minister, the board of the entity will identify any non-sensitive performance information that can be disclosed via the entity's website. The information released may vary between Crown entities and what is released can be decided by the entity and responsible Minister. The publication of performance information enables greater transparency and supports performance improvement through public monitoring of the entity's performance.42
Crown entities, like their private sector counterparts, are only expected to report at the consolidated group level rather than separately disclosing information about the parent and its subsidiaries. The Minister of Finance has a new power to require additional reporting from any member of the group (i.e. the parent or the subsidiary) where it is necessary or desirable to enhance public accountability of the individual member of the group.43
42: For example, DHBs' results are reported regularly (monthly or six-weekly) through public meetings of their board. This information (operational and financial results) is publicly available through this forum and via the DHBs' websites.
43: Particular rules apply to multi-parent subsidiaries. If applicable see: www.treasury.govt.nz/publications/guidance/planning/appropriations/cea-spe for more details.