Risk Management
The ADF upholds strict governance arrangements that provide a high degree of transparency and accountability. The ADF has a Board that meets on a regular basis. Separately, a Finance and Risk Sub-Committee meets to support the Board. Both these forums are advisory in nature and operate within the broader canonical governance structure of the Archdiocese of Brisbane.
ADF Board
The ADF Board is accountable for exercising its responsibilities mandated by the Archbishop of Brisbane. The responsibilities are wide and varied including setting and monitoring of strategies; review of risk framework annually; approval and recommendation of new loans; review and monitoring of compliance with investment policy and the review of the annual performance of the ADF in accordance with the Governance Policies.
The Board membership reflects a broad spectrum of interest in areas such as:
- Parish leadership;
- Religious congregations;
- Archdiocesan and non-profit Governance;
- Accounting, banking and/or financial markets;
- Civil and Canon law;
- Business and commerce; and
- Education, health and aged care.
Finance and Risk Sub-Committee
The Finance and Risk Committee is a standing committee of the ADF Board which provides recommendations and advice in relation to the operation and functions of the ADF.
The Committee oversees and appraises the ADF’s financial and operational reporting processes, including monitoring the specific risk exposures of the ADF in the areas of liquidity, interest rate, capital management, operating and lending practices to identify and recommend improvements in management policy and strategy to manage risk exposure.
Corporate Information
AUDITORS
- PricewaterhouseCoopers
SOLICITORS
- Thynne & Macartney
PRIMARY BANKER
- Commonwealth Bank of Australia
LEGAL STATUS
The ADF is part of the Catholic Archdiocese of Brisbane which conducts its civil works through The Corporation of the Trustees of the Roman Catholic Archdiocese of Brisbane.
DISCLOSURE STATEMENT
The Archdiocesan Development Fund (the Fund) is required by law to make the following disclosure. The Fund is not prudentially supervised by the Australian Prudential Regulation Authority nor has it been examined or approved by the Australian Securities and Investments Commission. An investor in the Fund will not receive the benefit of the financial claims scheme or the depositor protection provisions in the Banking Act 1959 (Cth). Investments in the Fund are intended to be a means for investors to support the charitable, religious and educational works of the Archdiocese of Brisbane and for whom the consideration of profit are not of primary relevance in the investment decision. The investments that the Fund offers are not subject to the usual protections for investors under the Corporations Act (Cth) or regulation by Australian Securities and Investments Commission. Investors may be unable to get some or all of their money back when the investor expects or at all and any investment of the Fund are not comparable to investments with banks, finance companies or fund managers. The Fund’s identification statement may be viewed at Identification Statement or by contacting the Fund. The Fund does not hold an Australian Financial Services Licence.
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