Figure 16: APF expenditure by objective for 2013–14 1% 4% Enhance members' institutional capacity ($1,218,586) 7% Enhance members' communication and engagement ($338,472) 11% Strategic management ($259,834) 52% 11% APF secretariat ($266,660) Engage with international and regional mechanisms ($157,887) 14% Compliance with the Paris Principles ($105,543) Net surplus ($16,740) 5.5. CORPORATE GOVERNANCE EVALUATION FINDINGS Outcome indicator Compliance Performance rating On track The APF is a company limited by guarantee and is required to meet a range of regulatory obligations. Directors of a company limited by guarantee are subject to all of the duties and obligations for a company as set out in the Corporations Act 2001. This includes the preparation of an audited financial report in accordance with the Australian Accounting Standards and a Directors’ report in accordance with the Corporations Act. There are also compliance requirements on companies limited by guarantee relating to health and safety, equal opportunities and industrial relations. During 2013–14, no non-compliance incidents in any of these areas were recorded. All financial, regulatory and statutory obligations have been undertaken. 48