Monthly Market Reports
Monthly insights into economic, finance and trade issues affecting global demand for wool, and what this means for the Australian wool industry.
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In order to assist woolgrowers to make their decision, prior to WoolPoll, the Statutory Funding Agreement (SFA) requires AWI to undertake an independent review to assess its performance against the Strategic Plan, relevant Annual Operating Plans, compliance with the SFA and general overview of operations. The review must be conducted by an independent company that has not reviewed or audited AWI in the three years before the review.
Like the WoolPoll result, the outcomes of the review are used by AWI and the Federal Government to negotiate the new SFA, ensuring continued improvement in company performance.
2015-2018 three year review
In compliance with the Statutory Funding Agreement (SFA), an independent review of performance of AWI has been undertaken prior to the 2018 WoolPoll.
In 2018, the Government took the lead in contracting and managing the independent consultant (Ernst & Young) undertaking the review. The review also considered some additional matters that were raised by industry and government.
AWI welcomed the expanded review and fully cooperated at every stage to ensure the consultants had access to all the information required to make their recommendations.
In summary, 82 recommendations were suggested, with the areas of monitoring and evaluation, consultation and governance being the focus. The recommendations range in levels of importance from 'mandatory', 'critical' and 'recommended' and provide the company with timing suggestions for completion helping to pave the way for greater consultation, transparency and accountability.
The Report also included important context about the scale of the Australian wool industry and the scope of AWI’s research and development role, including:
AWI acknowledges there are areas where we can enhance the way we operate and we look forward to improving delivery of our services to Australian woolgrowers.
Hear from AWI’s CEO Stuart McCullough as he speaks about the recommendations and the next steps for AWI.
AWI's formal Response and Implementation Plan will be finalised shortly.
2012-2015 three year review
In compliance with the SFA, in 2015 AWI conducted an independent review of performance prior to the 2015 WoolPoll.
The authors (Deloitte Private) of the 2012-2015 independent review concluded that organisational improvements, including engagement and collaboration, governance and operations, strategy and structure had created value for woolgrowers in several ways:
The report contained eight recommendations. Review AWI's Response and Implementation Plan (PDF 48Kb).
2009-2012 three year review
In compliance with the SFA, in 2012 AWI conducted an independent review of performance prior to the 2012 WoolPoll.
Key findings by the authors of the 2009-2012 independent review included:
The overall findings of the independent review of performance were that AWI has
The report contained four recommendations. Review AWI's Response and Implementation Plan (PDF 50Kb).
2010/11 voluntary one year review
Following completion of the 2009/10 independent review of performance AWI volunteered to conduct an additional independent review of performance in 2010/11.
Key outcomes of the 2010/11 independent review included progress in the following areas:
Major recommendations included:
Minor recommendations included:
View the 2010/11 Voluntary One Year Review (PDF 1.44Mb).
2009/10 one year review
As a requirement of the SFA, AWI conducted a one-year-on independent review of performance for 2009/10, to assess progress with implementing recommendations from the 2006-2009 three-year review.
The 2009/10 one-year-on independent review of performance noted significant progress by AWI in all areas assessed.
Key outcomes included progress in the following areas:
Areas identified for improvement included:
View the 2009/10 One Year Review (PDF 816Kb).
2006-2009 three year review
In compliance with the SFA, in 2009 AWI conducted an independent review of performance prior to the 2009 WoolPoll.
Areas identified for improvement included:
View the 2006-2009 Three Year Review (PDF 328Kb).