AFSA Corporate Plan 2026–27
AFSA's Corporate Plan 2026–27 sets out our purpose, key activities, operating environment and how we'll measure our performance. It outlines the factors that influence our work and planning, how we collaborate and engage with others, and our commitment to building our agency's capabilities.
Download AFSA's Corporate Plan 2026–27:
Message from the Chief Executive
I am pleased to present AFSA's Corporate Plan 2026–27, which sets out our priorities and direction for the next 4 years.
AFSA’s purpose is to ensure confidence in Australia’s personal insolvency
and personal property securities systems, and in the management of criminal assets.
The systems and services we regulate, administer and support are critical to the integrity of Australia’s $4.2 trillion credit system. They help people and businesses access finance, manage risk and navigate financial difficulty, while ensuring assets confiscated under proceeds of crime legislation are responsibly managed.
We are continuing to operate in an environment of heightened geopolitical and economic uncertainty. Cost of living pressures, housing affordability and declining financial resilience are affecting many Australian households and businesses. At the same time, increasing cybersecurity threats and rapidly evolving digital technologies are changing both the risks we face and the way we deliver our services.
In 2026–27, we expect to regulate more than 15,000 new personal insolvencies, facilitate around 13 million searches and 2.2 million new registrations on the Personal Property Securities Register, and preserve the value of more than half a billion dollars in confiscated assets.
In this environment, the systems we oversee must continue to deliver fair and balanced outcomes, while responding decisively to system misuse.
The Australian Government has also identified effective regulation as an important driver of productivity. AFSA will continue to apply risk-based, proportionate regulation that targets the harms that pose the greatest threat to system integrity without imposing unnecessary burdens on those that are doing the right thing.
Our work has two core dimensions:
- overseeing compliance and enforcing the law
- delivering essential public services, including supporting the operation of the personal insolvency system, administering personal insolvencies, operating the PPSR and preserving confiscated assets.
Together, these activities support people experiencing financial difficulty, protect creditors and enable broader economic participation.
In personal insolvency, AFSA has a distinctive role. Through the Official Trustee, we directly administer estates and gain firsthand insight into how the system operates. This practical experience informs our regulatory approach and helps us identify opportunities to make the system fairer, more responsive and more effective.
To meet emerging challenges, we are strengthening our regulatory capability and investing in our people, technology, data and cybersecurity. These investments will support better services, earlier identification of risk and more effective regulatory action.
This plan outlines our responsibilities, operating environment and performance measures. It also sets out our vision for a strong credit system for the Australian community, and the strategic priorities that will guide us over the next 4 years.
I am proud of the work our people do and the way they demonstrate the values of the Australian Public Service.
Together, we are building a more visible, modern and contemporary regulator. A regulator that protects system integrity and delivers tangible social and economic value for the Australian community.
Statement of preparation
As Accountable Authority of the Australian Financial Security Authority, I present the Corporate Plan 2026–27. This plan covers reporting periods 2026–27 to 2029–30 and has been prepared in accordance with paragraph 35(1)(b) of the Public Governance, Performance and Accountability Act 2013 (Cth).
Tim Beresford
Chief Executive
Inspector-General in Bankruptcy
Our agency
Who we are
The Australian Financial Security Authority (AFSA) is an executive agency in the Treasury portfolio.
What we do
We are responsible for Australia’s personal insolvency and personal property securities systems, as well as managing criminal assets. Together this:
- provides Australian consumers and businesses with tools to manage financial risk
- contributes to investor and business confidence
- provides enhanced access to finance within the economy enables the dispersal of proceeds of crime to the Australian community.
Personal insolvency provides a safety net for individuals and businesses with unmanageable debt and a solution for people who are owed money.
If an individual is unable to pay their debts when they are due, they are insolvent. This can happen for many reasons, like job loss, unexpected expenses, or taking on too much debt. Once a person becomes insolvent, they may require a solution available to them under Australia’s personal insolvency framework including bankruptcy, a debt agreement or a personal insolvency agreement.
Our role is to ensure the personal insolvency system operates in a way that:
- provides a fair and orderly process for resolving the financial affairs of people who are unable to pay their debts
- ensures assets in insolvent estates are managed appropriately to maximise returns to creditors while balancing the needs of debtors
- provides a tailored approach to trustworthy, effective and compliant administration, and allows users of the system to receive timely support service referrals, particularly if they are experiencing vulnerability
- takes timely, proportionate and risk-based action in response to those who seek to avoid their obligations and duties to others.
We do this through regulation of the Official Trustee, industry professionals (bankruptcy trustees and debt agreement administrators), debtors, and creditors.
We also administer bankruptcies and other personal insolvency arrangements when a private trustee or other administrator is not appointed.
Enabling legislation
We are responsible for administering the following Acts and associated regulations:
- Bankruptcy Act 1966 (Cth)
- Bankruptcy (Estate Charges) Act 1997 (Cth)
- Bankruptcy Regulations 2021 (Cth).
The personal property securities system is the legal framework that governs security interests in personal property. We operate and maintain the Personal Property Securities Register (PPSR) and support the Registrar of Personal Property Securities to detect, address and deter misuse.
The PPSR is the official government register of security interests in personal property (other than land, buildings and fixtures to land).
It is a publicly available noticeboard that facilitates access to credit by providing protection and peace of mind to consumers and businesses, for example by:
- enabling buyers to identify whether a security interest is registered over personal property
- supporting lenders to identify if a borrower already has security interests (such as money owing) registered against their personal property.
Security interests are created when a borrower (grantor) agrees with a lender (secured party) that specific property (collateral) can be taken, if a loan or other obligation is not repaid.
This form of secured finance is particularly important in an insolvency, as registration on the PPSR establishes an order of priority for the recovery of assets or funds where there are competing interests.
We support and regulate those who use the PPSR, and make sure it:
- is managed responsibly
- is available to use
- contains reliable information.
Our aim is to create a positive impact for consumers and businesses by making the system as accessible and useable as possible.
Enabling legislation
We are responsible for administering the following Act and associated regulations:
- Personal Property Securities Act 2009 (Cth)
- Personal Property Securities Regulations 2010 (Cth).
The Proceeds of Crime Act 2002 (Cth) allows proceeds of crime to be confiscated, forfeited to the Commonwealth and then used to benefit the Australian community.
We work in partnership with the Australian Federal Police (AFP) and other key agencies to support the Australian Government in disrupting and dismantling organised crime.
We support the Official Trustee in its custody and control, on behalf of the Commonwealth, of assets that have been restrained by the AFP.
We preserve the value of assets, acting in a way that delivers the greatest commercial and social outcomes at the point of disposal (or return) of confiscated assets.
We also help the Official Trustee to sell or realise assets after they are forfeited.
Funds collected through this process are accessed by the government to reinvest in local crime prevention, law enforcement, drug treatment and diversionary measures across Australia.
Enabling legislation
Our role is defined by the following Acts and associated regulations:
- Proceeds of Crime Act 2002 (Cth)
- Proceeds of Crime Regulations 2019 (Cth)
- Mutual Assistance in Criminal Matters Act 1987 (Cth)
- Crimes Act 1914 (Cth)
- Customs Act 1901 (Cth).
How we will do it
Our Strategic Plan
Operating context
Environment
Effective regulators are proactive. They continually and systematically monitor their operating environment to anticipate change, rather than react to it.
This discipline enables better decision making today and over the longer term. Over the next four years, we anticipate that evolving conditions will influence how we achieve our purpose.
Macroeconomic conditions (including interest rates, inflation, cost-of-living pressures and labour market conditions) are key drivers of our operating environment as they influence the number of Australians experiencing financial stress and, in turn, demand for personal insolvency services. Periods of economic tightening are likely to increase personal insolvency volumes and place pressure on regulatory oversight.
Both headline and underlying inflation[1] remain above the Reserve Bank of Australia’s (RBA) target range, and continue to signal further pressure on the cost of living. Early signs of rising household financial stress are emerging, with a surge in calls to the National Debt Helpline pointing to mounting pressure from rising living costs, and higher debt servicing costs (including due to recent cash rate[2] hikes) pose growing risks to household cash flows and credit quality.
Personal credit growth has resumed since early 2023 and credit card debt is expected to re-accelerate as households increasingly rely on short-term credit to manage tighter budgets. Personal insolvency volumes are expected to rise at a faster pace over the period ahead as debt servicing costs increase and unsecured household debt continues to build. However, while financial pressures are building, broader credit quality remains relatively sound, and near-term risks remain contained.
Spending patterns are shifting away from new vehicles towards used cars (particularly used electric vehicles) as households defer big ticket purchases under cost pressures. This shift is being reflected in PPSR activity, with searches increasing while growth in vehicle-related registrations has slowed. While volatility in motor vehicle demand and associated lending is likely as households adjust purchasing decisions in response to the unfolding energy crisis, total PPSR registrations continue to rise steadily, supported by stronger activity in non-vehicle securities.
The housing market remains relatively strong, but higher interest rates and recent tax reforms are expected to reduce demand, placing downward pressure on housing prices.
Proceeds of sales from criminal assets under management may benefit in the near term from asset disposals, but tighter financial conditions may increasingly weigh on property market activity as mortgage servicing costs become less affordable.
We will continue to closely monitor the fast changing economic and credit conditions to deliver effective operational strategies regarding the agency’s functions — personal insolvency, personal property securities and criminal asset management.
Footnotes
[1] Definition available at: Inflation and its Measurement | RBA
[2] Definition available at: Cash Rate Target Overview | RBA
We operate within a well-established legislative framework, primarily under the Bankruptcy Act 1966 (Cth) and the Personal Property Securities Act 2009 (Cth). Changes to legislation, government policy priorities or regulatory expectations can impact our functions, compliance activities and regulatory service delivery model.
The broader regulatory environment is also evolving, with increasing expectations around transparency, integrity, productivity, data governance and regulatory effectiveness.
Whole-of-government priorities continue to shape our operating context. In 2026–27, the government is advancing its productivity reforms, including a focus on reducing regulatory burden. The Productivity Commission’s inquiry into ‘reducing barriers to business dynamism in Australia’ will inform this agenda, with outcomes likely to influence our operating environment.
While legislative change is outside our direct control, the agency plays an important advisory and implementation role.
We will continue to support government through policy advice, maintain readiness to implement reforms, and ensure our regulatory approaches remain contemporary, risk-based and proportionate.
Rapid advances in artificial intelligence (AI), automation and data-driven technologies are continuing to reshape the financial services landscape and broader regulatory environment.
These developments present opportunities to improve efficiency, decision making and service delivery, while also introducing new risks relating to cyber security, fraud, transparency, misinformation and consumer harm.
We will take a measured and risk-based approach to the adoption and use of emerging technologies, supported by appropriate governance, oversight and security controls.
We will continue to strengthen our digital and data capabilities to support:
- informed and evidence-based regulatory decision making
- efficient and effective delivery of regulatory and corporate services
- improved digital experiences for users of AFSA systems and services
- organisational resilience and cyber security capability.
As technology continues to evolve, we will maintain a focus on adaptability, resilience and continuous improvement across our systems, processes and workforce capability. This includes ensuring critical digital services remain secure, reliable and fit-for-purpose, while continuing to build capability to respond to emerging risks, technologies and changing stakeholder expectations.
Emerging technologies, including digital assets such as cryptocurrency and tokenised assets, may impact personal insolvency, criminal assets administration and the PPSR. We continue to monitor developments in these areas to understand potential implications for the systems and services, we administer, and support stakeholder awareness through guidance and education where appropriate.
Governance and risk
Corporate governance
Our approach to governance is aligned with public sector principles of accountability, transparency, integrity, stewardship, efficiency and leadership. Our governance arrangements support clear decision making, effective oversight and responsible stewardship of public resources, consistent with our obligations under the Public Governance, Performance and Accountability Act 2013 (Cth) (PGPA Act).
Governance bodies
Our corporate governance framework establishes clear lines of authority, accountability and assurance across the agency. In response to our transformation agenda, we have strengthened and simplified our governance arrangements, including the establishment of the Regulatory Effectiveness Committee to provide dedicated oversight of regulatory design, delivery and outcomes. These arrangements support enterprise-wide stewardship, timely decisions and greater clarity about roles and responsibilities.
These settings enable our people to focus on delivery while ensuring appropriate oversight of strategy, performance, risk and investment.
Executive Board
The Executive Board provides leadership, guidance and direction supporting the Chief Executive and enabling us to meet our purpose, vision and outcomes, and deliver our obligations.
The Executive Board subordinate committees include:
- People & Culture Committee provides strategic advice on all matters related to human resources, organisational development, diversity and inclusion, performance management, and employee relations. Our work, health and safety and staff consultation forums (the National Consultative Committee and the National Work Health and Safety Committee) report to the People & Culture Committee.
- Regulatory Effectiveness Committee establishes, coordinates and oversees delivery and reporting of regulatory strategies, plans, priorities and operations across our Regulatory Operations Group.
Advisory Committees
The Chief Executive and other decision-makers are also supported by advisory committees.
These include:
- Regulatory Advisory Committee provides advice to decision-makers in the implementation of AFSA’s regulatory strategy and key regulatory decisions and approaches.
- Audit & Risk Committee provides independent advice to the Chief Executive on the appropriateness of our financial and performance reporting, its system of risk oversight and management, and its system of internal control. The Audit & Risk Committee’s charter is available on the Audit and risk committee page.
Risk oversight and management
Managing and engaging with risk is central to how we fulfil our role as a contemporary, intelligence-led regulator. A strong focus on risk enables us to regulate effectively. It supports sound decision making, directs our efforts toward the right priorities, and allows us to respond to emerging threats.
Risk culture and capability
Our approach to risk management is to promote active engagement, learning and stewardship, and balance risk with opportunity (our risk culture). It is supported by guidance, reporting, tools and training to support our continued maturity (our risk capability).
We take a proactive approach to identifying and managing risks that are shared with our regulatory partners or within our statutory entities, particularly in relation to the application of bankruptcy and personal property securities laws, and the delivery of personal insolvency, trustee, regulation, enforcement, and personal property securities services.
Strategic risks
We face risks within our ecosystem (ecosystem risks), to our regulatory effectiveness (effectiveness risks) and to our organisation (enterprise risks).
Ecosystem and effectiveness risks may impact our ability to identify and respond to current and emerging regulatory harms and maintain confidence in Australia’s personal insolvency and personal property securities systems, as well as criminal assets management.
Enterprise risks may impact trust in our ability to deliver regulatory functions, or to meet our obligations.
Risk governance
Our strategic risks are managed by the Executive Board, supported by our risk management framework and arrangements, which outline our approach to risk management, our obligations and our risk management processes.
We manage our risks by:
- working collaboratively with others
- implementing arrangements to support our regulatory stewardship and compliance
- safeguarding our resources and our people
- enabling effective and efficient operations
- reassessing our risk profile regularly and as part of strategic planning
- testing the effectiveness of key controls.
Regular reporting and other arrangements support our framework, enabling us to:
- understand, identify and respond to risks, including emerging and shared risks and issues
- enhance our risk culture and capability across all areas of our organisation.
Risk snapshot
Ecosystem risks
- Ecosystem coordination and regulatory partnerships
- Unexpected shifts in our operating environment
Effectiveness risks
- Managing legislative compliance
- Regulatory capability, stewardship, culture and integrity
- Regulatory effectiveness, experience, and performance
Enterprise risks
- Strategy and transformation
- Funding sustainability
- People and obligations
Capabilities
People, data and technology strengthen our capability. We are committed to prioritising and investing in initiatives that ensure we are equipped to deliver our purpose and advance our vision.
People
People are at the core of what we do, and we invest in a skilled and adaptable workforce. We are committed to equipping our staff with the mindsets, skillsets and toolsets they need to lead change and deliver results.
We continue to deliver the 3 key priorities of our Workforce Strategy 2023–28:
- Capability – building critical capabilities at individual, leadership and enterprise levels
- Culture – continuing to build a professional, inclusive and learning culture
- Capacity – attracting, retaining and investing in our people to become a model employer.
In 2026–27, we will strengthen talent management and build critical capabilities across regulatory, data and digital, and leadership domains, with a strong focus on applied learning, workforce agility, and leading change.
We are fostering an environment of inclusion and diversity that brings a range of experiences, perspectives and ideas to our workplace. An inclusive workplace drives our performance, innovation and productivity, where our people feel safe, supported and valued.
Our Diversity, Equity and Inclusion Strategy 2025–30 (iBelong) underpins our approach and embodies a commitment to our diverse and inclusive workforce as we deliver economic and social outcomes through a strong credit system.
Our executive team remains committed to these priorities, strengthening our ability to address critical capability gaps, enhance employee experience and deliver contemporary, high-quality regulatory services.
Australian Public Service Commission's Strategic Commissioning Framework
The Strategic Commissioning Framework supports the government’s commitment to reduce outsourcing and enhance Australian Public Service (APS) capability. The focus of the framework is on reducing excessive outsourcing of core work, and increasing APS employees’ delivery of the core work as outsourcing is reduced.
We operate under the Strategic Commissioning Framework, with core work largely delivered in-house and outsourcing used in limited permissible circumstances.
Employee engagement
Our APS Employee Census results are published online, along with our agency action plan, providing insights into:
- our people’s experience of work
- action areas to strengthen our organisational health
- program enhancements to improve our ways of working.
Our 2025 APS Employee Census results show that we remain in a period of transition. We continue to be focused on strengthening our regulatory stewardship and delivering outcomes for the Australian community.
A February 2026 pulse check showed improved sentiment across key indicators, with stronger agency connection, more positive employer perceptions, increased recognition of staff contributions and ideas, and improved access to learning and development.
Recognising the continued focus on our people, we are committed to rebuilding and strengthening the overall employee experience. Our efforts aim to create a more connected, inclusive, and engaging workplace, and we will track progress using the Employee Engagement Index (Table 1).
The Employee Engagement Index score demonstrates commitment to the organisation and the extent to which our people are motivated, inspired and enabled to improve our outcomes.
We will report our results in the Annual Report 2026–27.
| APS Employee Census | 2023 | 2024 | 2025 | 2026 target |
|---|---|---|---|---|
| AFSA's Employee Engagement Index Score | 73 | 69 | 69 | ≥ 70 |
| (+4) | (-4) | (+/-0) | (+1) |
Table 1: AFSA’s APS Employee Census scores and 2026 target
Data and technology
Technology is critical to how we deliver services, support regulatory functions and respond to changing stakeholder expectations. As our operating environment becomes increasingly complex, we require the right technology, capability and governance frameworks to deliver effective, efficient and sustainable services.
While we have a skilled and collaborative technology workforce with strong organisational knowledge and a commitment to delivering value, we continue to face challenges including legacy technology, inconsistent processes, fragmented long-term planning, and low maturity across some data and digital capabilities. Addressing these challenges requires a deliberate, coordinated and sustained uplift.
Our Technology Strategy 2025–30 outlines our approach to delivering our technology vision of simple, secure and smart technology solutions that support a strong credit system for the Australian community. The strategy also aligns with the whole-of-government Data and Digital Government Strategy.
Our strategy is supported by a Technology Roadmap that sets out high-level priorities, initiatives and accountability over a five-year horizon. The roadmap is regularly reviewed to respond to changing organisational priorities, technology trends and the evolving external environment.
With a clear delivery roadmap, we are strengthening our ability to respond to change, modernise the technology environment, and improve the experience and outcomes delivered through its systems and services.
Through delivery of the strategy and roadmap, we will continue to strengthen capability across the following areas:
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Delivering value across our ecosystem
- Strong partnerships between business and technology
- User-centred services
- Improved use of data to support decision making and service delivery
-
Mature technology foundations
- Enhanced operational effectiveness
- Consistent and sustainable technology practices
-
Future-focused capability
- Reliable and simplified technology services
- Scalable and adaptable platforms and services
- Considered adoption of emerging technologies
-
Trusted and secure services
- Secure and resilient systems
- Trusted and compliant practices
-
Simple and seamless services
- Aligned with broader government approaches and platforms
- Improved integration across systems and services
Stakeholder engagement
To fulfil our purpose we rely on strong, collaborative relationships across government, industry, the community and international partners. We adopt a proactive and structured approach to stakeholder engagement to support effective regulation, improve regulatory service delivery, and maintain confidence in Australia’s personal insolvency and personal property securities systems.
We tailor our engagement to stakeholder needs and risks, using a mix of formal partnerships, advisory forums and targeted outreach.
How we engage
We use a range of mechanisms to support ongoing cooperation and feedback, including:
- Strategic forums and events, such as the annual AFSA Summit, bringing together leaders from across sectors to discuss emerging trends and system performance
- Targeted consultation and co-design, particularly in relation to regulatory changes, system enhancements and regulatory service improvements
- Operational engagement, including regular liaison with regulated practitioners, peak bodies and government partners
- Sharing data and insights, to improve transparency and support evidence-based decision-making across the system.
We work closely with Australian Government departments and agencies to support policy development, system integrity and coordinated service delivery, including:
- Department of the Treasury
- Department of Home Affairs
- Department of Finance
- Australian Small Business and Family Enterprise Ombudsman
- Commonwealth Ombudsman
- Office of the Australian Information Commissioner
- State and territory government agencies
- Australian Federal Police
- Australian Taxation Office
- Australian Securities & Investments Commission.
Within Australia, we work with various federal and state government departments that oversee social and economic policies and programs that relate to the credit system, our stakeholders and our clients. This includes the Public Trustee (or similar) in each state or territory, which manages the forfeiture of the proceeds of crime under state or territory law. We also ensure that we engage with various not-for-profit and community groups that our clients interact with before or after they deal with us.
We engage with regulated entities and peak organisations to support compliance, build capability, and ensure regulatory settings are effective and proportionate, including:
- Australian Restructuring Insolvency and Turnaround Association
- Association of Independent Insolvency Practitioners
- Personal Insolvency Professional Association
- Financial Counselling Australia, Mob Strong Debt Help and financial counsellors
- Financial Rights Legal Centre, Consumer Action Law Centre, Law Council of Australia, law societies and legal professionals
- CPA Australia (Certified Practicing Accountants), CA ANZ (Chartered Accountants Australia & New Zealand) and accounting professionals
- Australian Automotive Dealer Association
- Council of Small Business Organisations Australia
- Insurance Council of Australia.
Academic and expert insights, particularly in credit and economic matters, are valuable sources of information that inform our understanding of the financial landscape and guide our responses to emerging trends. Our commitment to working closely with the research sector unlocks the value of public data for the benefit of Australia’s credit system. We collaborate closely with universities, academics, and researchers, playing a role in connecting industry with experts.
- We engage with our international counterparts and connect with insolvency regulators in comparative jurisdictions such as the United Kingdom, New Zealand, Singapore and Canada.
- We are an active member of the International Association of Commercial Administrators, the International Association of Insolvency Regulators (IAIR) and the International Association of Restructuring, Insolvency and Bankruptcy Professionals.
Performance
Approach to performance measurement
We use 8 performance measures, aligned to our 2 key activities, to demonstrate how we will deliver against our purpose.
We use a mix of qualitative and quantitative methodologies, and a combination of output, efficiency and effectiveness measures and targets to assess our performance each reporting period.
Our performance measures:
- meet the legislative requirements
- provide a holistic view of our performance
- align with our vision and strategic direction
- incorporate the principles of regulator best practice
Key activities
Regulatory oversight and enforcement
We regulate and ensure compliance with Australia’s bankruptcy and personal property securities laws through a layered, risk-based approach that combines education and outreach, proactive compliance and enforcement.
Guided by our Regulatory Strategy 2023–27, we take a stewardship role – monitoring, caring for, and strengthening regulatory systems to ensure they are fit for purpose and responsive to future challenges.
We apply a whole-of-system, surveillance-based approach, using data and intelligence to prioritise resources and identify serious, significant, and systemic harms, as set out in our Regulatory Action Statement.
We hold regulated professionals to high standards of competence, consistency and accountability, reflecting the trust and authority they hold. Fairness and transparency underpin all our decisions and communications, and we are committed to supporting people experiencing vulnerability while taking decisive action against those who misuse the systems we oversee.
Regulatory administration and practice
We deliver a range of services on behalf of the government, including administering bankruptcies and personal insolvency arrangements where no practitioner is appointed, supporting public access to and use of the PPSR, and managing and disposing of criminal assets for the Commonwealth.
These functions are delivered through a combination of industry expertise, legal and financial capability, and technology to provide timely and effective solutions.
We work with a diverse range of regulatory clients and stakeholders, requiring a tailored and transparent approach that balances competing interests in accordance with legislation. Most people who engage with us rely on clear information and efficient systems, and can expect accessible services, professional conduct, respectful treatment, and strong data protection, with particular care taken to support people experiencing vulnerability and to encourage early and ongoing engagement.
Reporting on performance
We will report on our performance measures in our Annual Performance Statements, within our Annual Report. This will include the actual results we achieved, compared to our target for each performance measure, in addition to an analysis of our performance and the contributing factors.
We undertake regular quality assurance checks throughout the year to ensure that our results are accurate and that we maintain appropriate records.
We also regularly report insolvency statistics and publish insights that help the public to better understand personal insolvencies in Australia and the operation of the PPSR. These are available on our at Statistics and insights.
Performance measures
| ROE1 | Misuse in the personal insolvency system | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services | |||
| Key activity | Regulatory oversight and enforcement | |||
| Qualitative / Quantitative | Quantitative | |||
| Output / Efficiency / Effectiveness | Effectiveness | |||
| Regulator performance principle(s) | Risk based and data driven | |||
| Context |
Most people within the personal insolvency system do the right thing and simply require efficient and effective services. For these clients, our focus is to make compliance as easy as possible. However, some clients deliberately misuse the personal insolvency system to avoid obligations, or for personal gain. As an intelligence-led regulator, it is our role to proactively identify misuse and act swiftly when someone has done the wrong thing. We work with the Official Trustee, registered trustees, registered debt agreement administrators, and others to surface and investigate wrongdoing, including potential offences against the Bankruptcy Act 1966 (Cth). Identifying, deterring, and addressing intentional misuse of the personal insolvency system is crucial to creating a strong credit system for Australia. |
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| Rationale | In line with our enduring regulatory priorities and purpose to ensure confidence in the personal insolvency system, measuring and reporting the rate of known misuse in the personal insolvency system demonstrates our commitment to deterring misconduct and upholding system integrity. | |||
| ROE1.1 – System participant misuse | ||||
| Methodology | This measure is calculated by determining the number of system participants who have been subject to adverse findings or disciplinary action within a reporting period. The number is divided by the total number of personal insolvencies recorded during the same period. The resulting figure is then multiplied by 100 to express the result as a percentage. | |||
| Data source | FORCE, AFSA's case management system (referrals). | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≤ 1% | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Results key | C – refer to Appendix 1 | |||
| ROE1.2 – Practitioner intervention | ||||
| Methodology | This measure is calculated by determining the number of practitioners who have been subject to regulatory interventions within a reporting period. The number is divided by the total number of registered practitioners. The resulting figure is then multiplied by 100 to express the result as a percentage. | |||
| Data source | RECM, AFSA's case management system (practitioner surveillance). | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≥ 10% to ≤ 25% | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Results key | C – refer to Appendix 1 | |||
| ROE1.3 – Practitioner misuse | ||||
| Methodology | This measure is calculated by determining the number of practitioners who have been subject to adverse findings or disciplinary action within a reporting period. The number is divided by the total number of registered practitioners. The resulting figure is then multiplied by 100 to express the result as a percentage. | |||
| Data source | RECM, AFSA's case management system (practitioner surveillance). | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≤ 3% | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Results key | C – refer to Appendix 1 | |||
| ROE2 | Integrity and misuse of the Personal Property Securities Register | ||||
|---|---|---|---|---|
| Program(s) | 1.2 Operation of a National Register of Security Interests in Personal Property | |||
| Key activity | Regulatory oversight and enforcement | |||
| Qualitative / Quantitative | Quantitative | |||
| Output / Efficiency / Effectiveness | Effectiveness | |||
| Regulator performance principle(s) | Risk based and data driven | |||
| Context |
The PPSR is a public noticeboard of security interests claimed against the personal property of others. With around 2.2 million new registrations per year, we rely on the secured party (user) to input the correct information to ensure that their registration is valid and to periodically review all their registrations to ensure they remain valid. To support this, we actively sweep for known indicators of inappropriate registrations and monitor known misusers of the PPSR. We also address incorrect registrations via the Amendment Demand Administrative Process (ADAP) or identified via tip offs. Misuse ranges from clearly unlawful or intentional behaviour, which tends to occur in small or isolated cases, to larger scale poor administrative and governance practices. These matters are addressed through targeted compliance responses, including proactive outreach, monitoring, enforcement, and Registrar tools such as the ADAP process. Systemic issues represent a more significant risk to the system. |
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| Rationale |
While registrations without an end date are a valid feature of the PPSR, they present a risk to system integrity when not actively managed. At scale, this creates a more material risk to system integrity than isolated misuse. Outdated registrations can distort the register and limit a debtor’s ability to access credit by overstating encumbrances. While in some cases there is a requirement for secured parties to remove registrations within prescribed timeframes (for example, the 5-day rule for serial numbered goods), we have limited ability to enforce this in practice. Therefore, we rely on influencing secured party behaviour and undertaking broad-scale remediation activities. Targeted engagement and regulatory focus on cohorts with high volumes of registrations without end dates including unclaimed migrated registrations and registrations held by deregistered companies is therefore critical to improving compliance, reducing integrity risks, and preventing harm. |
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| Methodology |
= C − O − N⁄O x 100 = Net reduction in existing registrations without end dates Opening stock (O) = All current registrations with no end date at the start of the reporting period |
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| Data source | Fujitsu, AFSA's PPSR platform manager | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≥ 15% net reduction |
≥ 6% to ≤ 10% net reduction |
As per 2027–28 | As per 2027–28 | |
| Results key | C – refer to Appendix 1 | |||
| ROE3 | Perceived regulatory effectiveness | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services 1.2 Operation of a National Register of Security Interests in Personal Property |
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| Key activity | Regulatory oversight and enforcement | |||
| Qualitative / Quantitative | Qualitative | |||
| Output / Efficiency / Effectiveness | Effectiveness | |||
| Regulator performance principle(s) | Continuous improvement and building trust Collaboration and engagement |
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| Context |
We work with, and through, a variety of stakeholders to ensure confidence in Australia's personal insolvency and personal property securities systems. Fulfilment of our role as a regulator requires us to identify and respond to harms, use our resources effectively and proportionately, provide guidance to those we regulate, and share insights about our ecosystem. We engage with our stakeholders through regular communications, forums and events, publications and periodic meetings. Through these engagements we seek to set our expectations, share our priorities and gain feedback that helps us to sharpen our approach. A key indicator of success is how our stakeholders perceive our regulatory effectiveness. |
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| Rationale | Measuring and reporting on whether we are perceived as an effective regulator provides an indication of stakeholders' confidence in the personal insolvency and personal property securities systems which we regulate. | |||
| Methodology | This measure is calculated by determining the median score from stakeholder responses to the survey question: 'On a scale from 0 (extremely ineffective) to 10 (extremely effective), how would you currently rate AFSA's effectiveness as a regulator?' | |||
| Data source | Aggregated interview results provided by independent market research consultancy. | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| Positive sentiment | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Where 0 to <5 indicates negative sentiment; ≥5 to <7 indicates neutral sentiment; and ≥7 to 10 indicates positive sentiment. | ||||
| Results key | C – refer to Appendix 1 | |||
| PM1 | Vulnerability targeted initiatives | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services 1.2 Operation of a National Register of Security Interests in Personal Property |
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| Key activity | Regulatory oversight and enforcement Regulatory administration and practice |
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| Qualitative / Quantitative | Qualitative | |||
| Output / Efficiency / Effectiveness | Output | |||
| Regulator performance principle(s) | Continuous improvement and building trust | |||
| Context |
Anyone can experience vulnerability. Some people who engage with the personal insolvency or personal property securities systems may also be experiencing circumstances which impact their ability to interact with our systems and processes, including understanding their options or meeting obligations. Our aim is to take a balanced approach to addressing vulnerability, providing appropriate support to all people and stakeholders engaging with our regulatory systems, including people in debt, creditors, practitioners and users of the Personal Property Securities Register. We will take tangible, meaningful, and measurable actions over the coming years to systematically reduce barriers for people experiencing, or at risk of, vulnerability. We will deliver targeted initiatives aligned to key objectives of the Vulnerability Strategy 2025–28. These initiatives will uplift our enterprise understanding and approach to reducing vulnerability harm in our systems. |
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| Rationale | In line with our enduring regulatory priorities, this measure reports on the delivery of initiatives to reduce barriers for people experiencing, or at risk of, vulnerability. | |||
| Methodology |
Each year, we will commit to a set of initiatives, delivered within the reporting period, that are focused on reducing barriers for people experiencing, or at risk of, vulnerability. In 2026–27, we will:
These initiatives have been selected by us and are supported by documented achievement levels. At the end of the reporting period, we will undertake a qualitative self-assessment of our delivery performance with regard to the achievement levels. When there are more than two initiatives, the overall result will be determined using a scoring system, where all initiatives have equal weighting. We will look at the result achieved for each initiative (assigning 0 for not delivered, 1 for partially delivered and 2 for delivered) and divide this by the maximum possible result (determined as the number of initiatives multiplied by 2). The resulting figure is then multiplied by 100 to express the result as a percentage. |
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| Data source | Internal report. | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| 100% – all initiatives delivered |
As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Results key | A – refer to Appendix 1 | |||
| RAP1 | Regulatory client experience | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services 1.2 Operation of a National Register of Security Interests in Personal Property |
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| Key activity | Regulatory administration and practice | |||
| Qualitative / Quantitative | Qualitative | |||
| Output / Efficiency / Effectiveness | Effectiveness | |||
| Regulator performance principle(s) | Continuous improvement and building trust Collaboration and engagement |
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| Context |
The AFSA Service Centre (ASC) provides frontline services relating to personal insolvency and the PPSR. The ASC handles all incoming phone calls and email correspondence from our clients; debtors, creditors, people that make registrations on the PPSR, people that search the PPSR, practitioners and industry professionals. Collecting data about our clients' experience (clients' perceptions of regulatory interactions with us) helps us to better understand and support the needs of our clients and improve our services. Due to the nature of our services, clients may not always be satisfied with their circumstances, however we want to ensure that they perceive our service delivery as accessible, trustworthy and fair. Clients can also provide compliments, suggestions, complaints and website feedback through various other channels. |
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| Rationale | The ASC is the frontline channel for us to engage with personal insolvency and personal property securities clients and stakeholders. Satisfaction with our regulatory administration and practice functions is an indicator of whether we are ensuring confidence in the systems for which we are responsible. | |||
| Methodology | This measure is calculated by identifying the number of regulatory clients who selected either 'Positive' or 'Extremely Positive' in response to the survey question: "Which of the following best describes your overall experience with AFSA?" This number is divided by the total number of clients who participated in the survey and then multiplied by 100 to express the result as a percentage. | |||
| Data source | Aggregated survey results provided by an independent market research consultancy | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≥ 73% | ≥ 74% | ≥ 75% | As per 2028-29 | |
| Results key | C – refer to Appendix 1 | |||
| RAP2 | Register availability (NPII & PPSR) | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services 1.2 Operation of a National Register of Security Interests in Personal Property |
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| Key activity | Regulatory administration and practice | |||
| Qualitative / Quantitative | Quantitative | |||
| Output / Efficiency / Effectiveness | Output | |||
| Regulator performance principle(s) | N/A | |||
| Context |
The National Personal Insolvency Index (NPII) is a publicly available electronic record of certain personal insolvency proceedings in Australia. The Inspector-General has responsibility for the operation of the NPII, while the Official Receiver maintains the NPII on behalf of the Inspector-General. Public searches of the NPII can be conducted using the Bankruptcy Register Search (BRS) to check if someone is, or has been, in a personal insolvency proceeding such as bankruptcy. The PPSR is a public noticeboard of security interests claimed against the personal property of others. When someone registers a security interest on the PPSR, they are letting the public know that they claim to have a security interest over certain personal property - this in turn may affect someone else's decisions in relation to that property, organisation or individual. To enable lenders, employers, purchasers, and other clients to make informed decisions, we aim to ensure that a search can be conducted 24 hours a day, 7 days a week. Like any online service, we require a small amount of maintenance time, necessitating scheduled system outages. |
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| Rationale | Measuring and reporting on our performance in ensuring the accessibility of critical online insolvency and personal property securities registers provide visibility of our delivery of legislative obligations. | |||
| Methodology | This measure is calculated by first determining the uptime percentage for the BRS and the PPSR individually. Each uptime figure is calculated by dividing the total time the service was available during the reporting period by the total time in the reporting period (excluding scheduled maintenance), then multiplying the result by 100 to express it as a percentage. The final measure is the average of the two uptime percentages. | |||
| Data source | Uptime Robot, AFSA's website monitoring service; Fujitsu, AFSA's PPSR platform manager. | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≥ 99.80% (excluding scheduled maintenance) |
As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| In addition to the overall result, actual performance for both registers will be reported and analysed in the Annual Performance Statements. | ||||
| Results key | C – refer to Appendix 1 | |||
| RAP3 | PPSR searches-to-new registrations ratio | ||||
|---|---|---|---|---|
| Program(s) | 1.2 Operation of a National Register of Security Interests in Personal Property | |||
| Key activity | Regulatory administration and practice | |||
| Qualitative / Quantitative | Quantitative | |||
| Output / Efficiency / Effectiveness | Effectiveness | |||
| Regulator performance principle(s) | N/A | |||
| Context |
The PPSR contains over 10 million active registrations. Over the past 10 years, on average there have been 2.2 million new registrations on the PPSR each financial year. Increasing numbers of new registrations and searches reflect growing community awareness of the PPSR and the benefits it can provide. The searches-to-new registrations ratio indicates how useful the register is. A low ratio indicates that not many people are using the register, or it is only being used as part of a process. A greater ratio indicates that the register is seen as a valuable risk management mechanism, and users see value in searching the register before making lending decisions. |
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| Rationale | This measure provides an indication of whether the PPSR is useful for informing lending decisions and managing risk, in alignment with our purpose to ensure confidence in the personal property securities system. | |||
| Methodology | This measure is calculated by dividing the total number of searches conducted during the reporting period by the total number of new registrations made within the same period. | |||
| Data source | Fujitsu, AFSA's PPSR platform manager. | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| No target | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| This measure is an indicator of the usefulness of the PPSR to users. Setting a target is considered unreasonable as performance is significantly influenced by external factors beyond our control, including market conditions, economic cycles, and regulatory changes that naturally drive fluctuations in search and registration volumes. Analysis of performance will consider our activities, the operating environment and external factors that drive changes in searches and registration volumes. | ||||
| Results key | N/A | |||
| RAP4 | Criminal assets management efficiency | ||||
|---|---|---|---|---|
| Program(s) | 1.1 Personal Insolvency and Trustee Services | |||
| Key activity | Regulatory administration and practice | |||
| Qualitative / Quantitative | Quantitative | |||
| Output / Efficiency / Effectiveness | Efficiency | |||
| Regulator performance principle(s) | Continuous improvement and building trust | |||
| Context |
We work in partnership with the AFP, and other key agencies, to support the Australian Government in disrupting and dismantling organised crime. Through the Official Trustee in Bankruptcy (Official Trustee), we manage restrained assets and realise the value of forfeited assets. This function enables proceeds of crime assets to be turned into funds that are used to prevent and mitigate the harmful impact of organised and other crimes in Australia. While assets are under the custody and control of the Official Trustee, reasonable steps to preserve the assets are taken – this can include storage, servicing and maintenance. Once the asset is forfeited, and ownership transfers to the Commonwealth, the Official Trustee disposes of the assets, usually at public auction. It is important that we act in a way that delivers the greatest social outcomes in a cost-efficient manner at the point of disposal (or return) of confiscated assets. |
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| Rationale | This measures whether our cost of managing criminal assets does not exceed an acceptable proportion of the assets under management, demonstrating public value. | |||
| Methodology | This measure is calculated by taking the total cost incurred in managing criminal assets during the reporting period, excluding any doubtful debt write-offs, and dividing it by the gross value of assets under the custody and control of the Official Trustee as at 30 June. The result is then multiplied by 100 to express the result as a percentage. | |||
| Data source | POCMAN, AFSA's criminal assets management case management system. | |||
| Target | 2026–27 | 2027–28 | 2028–29 | 2029–30 |
| ≤ 5% | As per 2026–27 | As per 2026–27 | As per 2026–27 | |
| Results key | C – refer to Appendix 1 | |||
Appendices
Appendix 1
Performance measures
This appendix provides further information about our performance measures, including any changes to performance information from previous reporting periods.
Performance measure architecture
The architecture below (Figure 5) shows the linkage from our enabling legislation through our outcome, programs, key activities and performance measures.
This mapping aims to provide clarity between our Portfolio Budget Statements, Corporate Plan, and Annual Performance Statements.
We use a numbering system to support ease of tracking. Regulatory oversight and enforcement measures use a ‘ROE’ number, regulatory administration and practice measures use a ‘RAP’ number and those that relate to both use a ‘PM’ number.
How we report on performance results
The below results keys set out how we will report on our performance in the Annual Performance Statements, considering the type of measure, target and performance tolerance.
| Results key A | |
|---|---|
| Performance measure result | Annual Performance Statements result |
| ≥ 80% – 100% | Achieved |
| ≥ 50% < 80% | Partially achieved |
| < 50% | Not achieved |
| Results key B | |
|---|---|
| Performance measure result | Annual Performance Statements result |
| 100% | Achieved |
| ≥ 90% < 100% | Partially achieved |
| < 90% | Not achieved |
| Results key C | |
|---|---|
| Performance measure result | Annual Performance Statements result |
| Meets or outperforms target | Achieved |
| Does not meet target | Not achieved |
Changes to performance information: 2025–26 to 2026–27
| ROE2 | Misuse of the PPSR | ||
|---|---|---|
| Changes from previous year (methodology) | ||
| 2025–26 | 2026–27 | Rationale for change |
| In 2025–26, we will deliver a pilot program to systematically detect and assess compliance of registrations that exhibit patterns or signs that have been flagged as indicative of potential non-compliance. |
Replaced with a new quantitative measure, ‘Integrity and misuse of the Personal Property Securities Register’. See page 25 for measure details. |
In 2025–26, we committed to developing a quantitative method to measure misuse of the Personal Property Securities Register from 2026–27 onward. As a result, a new measure, ‘Integrity and misuse of the Personal Property Securities Register’, has been introduced. See page 25 for further details. |
| PM1 | Vulnerability targeted initiatives | ||
|---|---|---|
| Changes from previous year (methodology) | ||
| 2025–26 | 2026–27 | Rationale for change |
|
In 2025–26, we will:
|
In 2026–27, we will:
|
The specific activities within this output-based measure have changed, however the underlying methodology for calculating and reporting the outputs remains the same. |
| RAP1 | Regulatory client experience | ||
|---|---|---|
| Changes from previous year (methodology) | ||
| 2025–26 | 2026–27 | Rationale for change |
| A baseline result will be determined in 2025–26 and used to establish future targets. | ≥ 73% | A baseline result was developed in 2025–26 and used to establish a target. |
| RAP2 | Register availability | ||
|---|---|---|
| Changes from previous year (methodology) | ||
| 2025–26 | 2026–27 | Rationale for change |
| Target: ≥ 99% | Target: ≥ 99.80% | This adjustment strengthens the target to better reflect system performance maturity, while remaining consistent with the expectation that targets be both realistic and appropriately stretching. |
Appendix 2
PGPA Act Requirements
Our Corporate Plan has been prepared in accordance with the requirements of:
- section 35 of the Public Governance, Performance and Accountability Act 2013 (Cth)
- sections 16E and 16EA of the Public Governance, Performance and Accountability Rule 2014 (Cth)
- Resource Management Guide 132 (Corporate plans for Commonwealth entities).
| Requirement | Page(s) |
|---|---|
| Introduction | Page 2 |
| Statement of preparation | Page 2 |
| The reporting period for which the plan has been prepared | Page 2 |
| The reporting period covered by the plan | Page 2 |
| Purpose | Page 4 |
| Operating context | Page 8 |
| Environment | Page 9 |
| Risk oversight and management | Page 12 |
| Capabilities | Page 14 |
| Cooperation (Stakeholder engagement) | Pages 17 to 18 |
| Subsidiaries (if applicable) | N/A |
| Performance | Pages 19 to 31 |
| Key activities | Pages 20 to 21 |