AFSA's review of the statement of affairs


This is in the context of AFSA working towards having more of its personal insolvency services available online. The review of the SoA is in preparation for its online completion and filing by debtors.   

AFSA explains that the form

  • has remained unchanged for a number of years and feedback from clients and stakeholders indicates that it could do with some modernising
  • has a high usage and can be overwhelming and complex for debtors. Any improvements to the form will benefit a large number of clients and stakeholders
  • is an important data collection tool – and AFSA needs to ensure that all the data collected is required, is relevant to its administration processes and meets its Privacy Act obligations
  • is very large, and transitioning to an online channel will enable usage of smart technology which makes the user experience easier by only displaying information relevant to the client circumstances, for example, fields that expand and contract.

In its email to all trustees AFSA has asked for feedback on some other areas.  Members are encouraged to respond. 

For some reason AFSA needs comments quickly, by Friday 23 May 2014.  ARITA will give a response and the views of members are invited.   

ARITA would expect that this review would be done in conjunction with any review of the Report as to Affairs (RATA) of ASIC, given the similar purposes, and often clientele, of the forms.  We have raised this with AFSA and ASIC.

ARITA also mentions that the RATA, and the SoA in comparison, was the subject of a review under the Terry Taylor Scholarship in 2011 by Mr Peter Keenan, whose report makes a number of recommendations for redrafting and reform.