The Funding Agreement (FA) requires LiveCorp to undertake an independent review to assess its performance against the obligations of the FA, Strategic Plan, relevant Annual Operational Plans, governance arrangements and general operations. The review must be conducted by an independent company that has not carried out any corporate governance activity, performance audit or similar reviews of LiveCorp in the four years before the review.
The outcomes of the review are taken into account by LiveCorp and the Commonwealth Government when negotiating the renewal of the FA, ensuring continued improvement in company performance.
LiveCorp’s current FA ends in 2021 and the required performance review is underway. The process will include engagement with livestock exporters and other participants in the industry, and is due to conclude in September 2020.
The previous review was carried out in 2013. The report contained 14 recommendations. LiveCorp’s Response and Implementation Plan outlines the actions taken, or being taken, to address the recommendations.