3.2 Objectives The Commission appointed Quantum Market Research (QMR) to conduct a quantitative survey of Australian adults and provide evidence about the current state of FEPOA knowledge held by principals and appointed decision-makers. The overall objectives of this report were to: l l l l increase knowledge about FEPOA principals and appointed decision-makers’ understanding of their rights and responsibilities under FEPOA arrangements identify gaps and opportunities in educating Australians about FEPOA rights and responsibilities contribute evidence to inform FEPOA law reform efforts to better protect Australians from financial elder abuse assist in contributing a more detailed understanding of FEPOA education needs to inform future research and education on FEPOAs. 3.3 Methodology and sampling approach The Commission, with the assistance of an expert advisor, undertook extensive preparation to co-develop the survey instrument with QMR. Five cognitive testing interviews were also undertaken to ensure the survey was clear, easy to understand and performed as required. The cognitive testing was undertaken with a mix of people of different ages, roles (principals and appointed decision-makers), different linguistic backgrounds, and residing in different jurisdictions. The online survey was conducted in February 2024 with a total sample of 3,029 Australian adults. A sub-set of the sample (n=2,496) was nationally representative of Australian adults. The sample was then boosted to obtain a sufficiently robust and representative sample of FEPOA principals and appointed decision-makers. Subgroup Definition Sample size Principals Australian adults who are currently or have previously been a principal in an FEPOA n=537 Appointed Decision-makers Australian adults who are currently or have previously been an appointed decision-maker in an FEPOA n=522 Control Australian adults who have never been either a principal or appointed decision-maker n=1,970 This report distinguishes between the national view (using the nationally representative sample) and detailed insights from principals and appointed decision-makers (which includes the additional principal and appointed decision-maker sample). Respondents were recruited through an ISO accredited online market research panel, where age, gender and location could be monitored to ensure representativeness. The control group only completed a small sub-set of questions, while principals and appointed decisionmakers completed the full survey. The survey took between 5 and 20 minutes to complete, depending on the respondent’s answers. The maximum margin of error (at the 95% confidence interval) for the nationally representative sample is +/2.0%. In other words, if the survey returns a result that ‘50% agree with X’, we can be suitably confident that the true proportion within the whole population lies between 48% and 52%. This is a very high degree of reliability. Where significance testing has been shown or commented on, results are significant at the 95% confidence interval. The project was carried out in line with the Market Research International Standard, AS ISO 20252. 14 Empowering futures: A national survey on the understanding and use of financial enduring powers of attorney