AFSA has published the Personal Insolvency Compliance Report (PICR) for 2020–2021, showcasing the outcomes from the Personal Insolvency Compliance Program and providing a summary of our compliance activities across the personal insolvency system.
The period was significantly impacted by the COVID-19 pandemic and associated government responses. Despite the challenges of 2020-2021, AFSA inspected almost 200 administrations, reviewed 191 personal insolvency proposals and finalised 280 complaints. More than 800 offence referrals were received, with almost 500 Official Receiver notices issued and served. During the year, 123 briefs were sent to the Commonwealth Director of Public Prosecutions (CDPP) and 69 people were prosecuted.
AFSA remains focused on addressing misconduct in the personal insolvency system and ensuring that the Official Trustee’s work is primarily geared towards activities that help to support the overall confidence in the system.
The full report can be downloaded from our website.