Episode 7: Demystifying the ORP statement
In this episode, we take a closer look at the obligation for organisations and branches to lodge an Officer and related party disclosure (ORP) statement.
Since this requirement came into effect in 2018, the ROC has consulted with registered organisations to provide tailored advice about how to prepare the ORP statement in compliance with the RO Act. This episode features a discussion between three members of staff who have been directly involved in the assessment of ORP statements.
In this episode we identify the common areas of non-compliance, and answer the frequently asked questions.
2:00: Summary of the ORP statement requirements
4:45: The ROC’s template
6:00: The concept of ‘relevant remuneration’
14:00: Non-cash benefits and how to value them
17:00: Payments to related parties and the legislative exemptions
20:30: Payments to declared persons or bodies
24:30: Episode summary
ROCpod is the official podcast of the Registered Organisations Commission. It is copyright to the Commonwealth of Australia. The opinions expressed in ROCpod are the opinions of the particular speaker and not necessarily the opinions of the Registered Organisations Commission. This information is general and is not intended to be comprehensive, it is designed to assist in gaining an understanding of the relevant provisions of the legislation, the ROC and its work. The ROC is not able to provide legal or accounting advice. For further information please see the materials on our website www.roc.gov.au or contact us at email@example.com