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The Australian Financial Security Authority (AFSA) has released its Annual Report 2021–22, discussing the agency’s operations and achievements in the last financial year.
The full report is available now on the AFSA website and will also be available on transparency.gov.au in the coming weeks.
Throughout 2021–22, AFSA continued to ensure confidence in Australia’s personal insolvency and personal property securities systems. The agency's work has been underpinned by Future AFSA, a 3-year change program providing the capabilities needed to meet changing client and stakeholder expectations.
Delivering world-class service was a key focus, and survey results showed a 94% client satisfaction rate for 2021–22. Over 90% of calls to AFSA were answered within 4 minutes.
During the financial year, AFSA administered 9,545 personal insolvencies and continued to develop insolvency insights for publication. In transferring matters to registered trustees, the agency also achieved its target of offering 20% of transferred estates to female practitioners.
AFSA also celebrated a milestone in January 2022, marking 10 years of the Personal Properties Securities Register (PPSR). Since its inception, there have been more than 22 million registrations created and 87 million searches undertaken.
AFSA Chief Executive Tim Beresford noted that there's an exciting future ahead for AFSA.
'It's a great privilege to lead this organisation,' Mr Beresford said.
'The Annual Report acknowledges the successes of 2021–22, particularly those of our staff.'
'In the face of large changes and ongoing challenges, our people have displayed resilience, professionalism and a generosity of spirit.'
'I'm looking forward to leading our team as we continue our commitment to be a firm and fair regulator and world-class government service provider.'
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