QUESTIONS ON NOTICE › Australian Securities and Investments Commission (Question No. 986)
Senator Wong: The Treasurer has provided the following answer to the honourable senator's question: ASIC's actual expenditure for 2010-11 and budgeted expenditure for 2011-12 in respect of each of the items listed above is set out in the table below. (1) 2010-11 Actual Expenditure (2) 2011-12 Budgeted Expenditure Comments (a) Advertising $427,225 $350,000 (b) - (c) Air travel within Australia $1,710,717 $2,310,752 ASIC does not track expenditure or allocate a specific budget against classes of flights; however, the travel policy outlines that all staff must travel Economy class for domestic travel with the exception of: Commission who are entitled to fly business class; and SELs who are entitled to fly business class on flights where the duration is greater than 2 hours. (d) Air travel within Australia by charter flight Nil Nil There were no charter flights during 2010-11 and none expected for 2011-12. (e) - (g) Air travel outside Australia $338,146 $367,810 ASIC does not track expenditure or allocate a specific budget against classes of flights; however, the staff are entitled to travel business class for international travel, with the exception of Commission members who are entitled to fly first class. Note: While Commissioners are entitled to first class travel via the Remuneration Tribunal Award, they are no longer flying first class except in exceptional circumstances and on medical advice. (h) Air travel outside Australia by charter flight Nil Nil There were no charter flights during 2010-11 and none expected for 2011-12. (i) Hospitality and entertainment $149,753 $128,052 (j) Information and communications technology (ICT) costs generally $43,200,000 $44,416,000 (k) ICT costs to external providers $23,100,000 $26,748,000 (l) External consultants generally $7,320,000 $10,289,674 (m) External accounting services Nil Nil External accounting services are considered services relating to the outsourced provision of our accounting functions. Therefore, accounting services for our regulatory function are not included. (n) External auditing services Nil Nil ASIC's external auditor is the ANAO (o) External legal services $20,257,000 $26,000,000 (p) Memberships or grants paid to affiliate organisations $351,386 $350,000 Staff memberships such as practising certificates and CPA and CA renewals.