Indigenous Corporations Criticised for Failure to Report Activities
A significant proportion of Indigenous corporations in Australia have failed to report their activities, sparking calls for governance reform and audits.
According to data from the Independent Office of the Registrar of Indigenous Corporations (ORIC), over 1,000 reports were not filed by the required deadline in the 2023-24 financial year.
Among the corporations that have failed to report, 26 are classified as “large” with an annual turnover exceeding $5 million.
Indigenous leader Warren Mundine has expressed concerns over the lack of transparency, stating that it is “not surprising” given the long-standing issues in the sector.
“This has been a problem for a long time.
Where have the millions/billions of dollars gone to?
Why haven’t we met the majority of Closing the Gap targets?”
Mr Mundine said.
He reiterated his support for audits and governance reform, emphasising that the current situation is detrimental to the Indigenous people who rely on these services.
Calls for Comprehensive Audit
One Nation leader Pauline Hanson has also called for a comprehensive audit, labelling the sector “corrupt and nepotistic”.
She argued that the lack of accountability has hindered progress in closing the gaps, and that the Australian people have a right to know how their taxpayer dollars are being spent.
The Queensland Senator also took aim at Indigenous Australians Minister Malarndirri McCarthy, suggesting that she is more concerned with enforcing welcomes to country than enforcing the law.
Coalition Indigenous Affairs spokeswoman Kerrynne Liddle has also expressed her concerns, stating that the failings of reports are “unacceptable” and that organisations receiving taxpayer money must meet regulatory standards.
Indigenous corporations can be either for-profit or not-for-profit, and can be registered as charities if they meet certain criteria.
Their income can come from various sources, including government grants, land use agreements, and business activities.
However, the lack of transparency and accountability has led to widespread criticism and demands for reform.