Efic is a corporate Commonwealth entity and is governed under the provisions of the Export Finance and Insurance Corporation Act 1991 (Efic Act) and the Public Governance and Accountability Act 2013 (PGPA Act).
We are part of the Australian Government’s Foreign Affairs and Trade Portfolio and the Minister for Trade, Tourism and Investment (The Minister) is responsible for us. More information about our accountability to the Minister and to the Federal Parliament can be found here.
The Efic Board is responsible for our corporate governance, managing our affairs and overseeing our operations. We impose a strong commercial discipline on governance and risk management through our governance framework. Our activities are also detailed every financial year in an Annual Report, which is tabled in the Australian Parliament.
Efic is partially exempt from freedom of information legislation. The partial exemption and the strong secrecy obligation imposed on us recognises the need to keep confidential the commercial information we obtain from Australian exporters and investors.
Our employees are subject to a Code of Conduct and are required to keep information about clients confidential. This requirement of confidentiality also applies to Board members.
The level of Australian content in an export contract is an important factor in determining the amount of financial support that we are able to provide to Australian exporters. Read a summary of our Australian content guidelines. The Efic Act permits us to publish only a limited amount of information about our transactions.