The Registrar of Aboriginal and Torres Strait Islander Corporations, Ms Tricia Stroud, has placed the Waanyi Native Title Aboriginal Corporation RNTBC (ICN 7448) under special administration.
On 12 January 2024 the Registrar issued a notice to the corporation to show cause why a special administrator should not be appointed following an examination of the books of the corporation.
The examination found significant non-compliance issues and that directors had been failing in their duties, particularly in relation to financial controls and management. The corporation has inadequate financial controls in place, starting with no documented policies and procedures to guide financial management practices.
Compounding the absence of financial controls, the board had not been reviewing regular financial reports or overseeing cultural payments made by the corporation.
On 15 April 2024, Mr Peter McQuoid from PDM Consultancy was appointed as the special administrator. His appointment is until 18 October 2024. All board positions have been vacated and the special administrator will conduct the affairs of the corporation.
The special administration will implement robust financial management frameworks to address the deficiencies of the current financial management practices.