Overview The Australian Human Rights Commission (the Commission) is an Australian Government controlled entity. It is a not-for-profit entity. The Commission’s objective is to ensure that Australians have access to independent human rights complaint handling and public inquiry processes and benefit from human rights education, promotion, monitoring and compliance activities. The Commission is structured to meet the following outcome: An Australian society in which human rights are respected, protected and promoted through independent investigation and resolution of complaints, contributions to law and policy reforms, research, education, partnerships, and monitoring and reporting on human rights. The continued existence of the Commission in its present form and with its present programs is dependent on Government policy and on continuing funding by Parliament for the Commission’s administration and programs. The Commission activities contributing toward these outcomes are classified as departmental. Departmental activities involve the use of assets, liabilities, income and expenses controlled or incurred by the Commission in its own right. The Basis of Preparation The financial statements are required by: a) section 42 of the Public Governance, Performance and Accountability Act 2013 The financial statements have been prepared in accordance with: a) Public Governance, Performance and Accountability (Financial Reporting) Rule 2015 (FRR); and b) Australian Accounting Standards and Interpretations – including simplified disclosures for Tier 2 Entities under AASB 1060 issued by the Australian Accounting Standards Board (AASB) that apply for the reporting period. The financial statements have been prepared on an accrual basis and in accordance with the historical cost convention, except for certain assets and liabilities at fair value. Except where stated, no allowance is made for the effect of changing prices on the results or the financial position. The financial statements are presented in Australian dollars. Taxation The Commission is exempt from all forms of taxation except Fringe Benefits Tax (FBT) and the Goods and Services Tax (GST). Events After the Reporting Period The Commission is not aware of any significant events that have occurred since balance date that warrant disclosure in these financial statements. Annual Report 2023–2024 • 65