Staff marched up the hill for frugal APRA event

When it comes to an annual catch-up of senior staff, the Australian Prudential Regulation Authority (APRA) has a much more modest approach to that of its fellow regulator the Australian Securities and Investments Commission (ASIC).

While ASIC spent north of $37,000 on venue hire and catering for its annual Leader’s Forum, it appears APRA managed to get the job done for $19,588.

APRA, based in Sydney’s Martin Place, appears to have simply walked its team up the hill to Macquarie Street to use the event and catering facilities of the NSW Parliament.

In a very terse answer to a question on notice from Liberal front-bencher, Michaelia Cash, APRA said the contract lodged with Austender related to venue hire (including audio visual services) and a food package for an internal conference for APRA staff.

“The food package included morning tea, lunch and afternoon tea. There was no alcohol or entertainment provided, nor were any decorations purchased,” the APRA response said.

ASIC recently answered a Senate Estimates question from cash relating to its annual Leader’s Forum where it revealed that it had budgeted $90,000 for the event.

The venue hire listed as costing $9,500; while catering for approximately 82 attendees was costed at $26,238 and the cost of a master of ceremonies, session facilitators and travel expenses was costed at $44,152.