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Housing : June 2009
HIA CONCISE FINANCIAL REPORT For the Year Ended 31 December 2008 Likely Developments and Expected Results There are no likely developments in the operations of the consolidated entity for subsequent financial years other than what has been mentioned elsewhere in the financial report. Indemnification and Insurance of Directors and Officers During or since the end of the financial year, the Association has paid premiums in respect of a contract insuring all the directors and officers of the Association and its controlled entities against a liability incurred in their role as directors and officers, except where the liability arises out of conduct involving a willful breach of duty. The amount of insurance contract premiums paid was $17,616 (2007: $14,529). The Association has provided indemnities to each of the directors. Directors’ Meetings The number of meetings of directors held during the year and the number of meetings attended by each director were as follows: DIRECTOR MEETINGS ELIGIBLE TO ATTEND MEETINGS ATTENDED Bruce Langford-Jones 66 Jillian Lee 66 Ronald Dwyer 66 Terrence Jenkins 66 Ross Lang 66 Pino Monaco 66 GrahamWalker 66 StuartWilson 66 Peter Grigg 66 Peter Irving 66 Ronald Silberberg 66 Shane Goodwin 66 Auditor Independence and Non-Audit Services The directors received a declaration of independence from the auditor of the Association which is attached to this report. Non-Audit Services The following non-audit services were provided by the entity’s auditor, WalterTurnbull. The directors are satisfied that the provision of non-audit services is compatible with the general standard of independence for auditors imposed by the Corporations Act 2001 (Cth). The nature and scope of each type of non-audit service provided means that auditor independence was not compromised. WalterTurnbull received or are due to receive the following amounts for the provision of non-audit services: Tax Compliance Services Assurance Related Other $18,960 $2,500 $5,890 This report is made in accordance with a resolution of the Board of Directors and is signed for and on behalf of the directors by: B Langford-Jones Director/National President Canberra – 24 March 2009 74 HOUSING JUNE 2009 R Dwyer Director/Treasurer