Financial monitoring and prudential standards
On 1 July 2023, the Aged Care Quality and Safety Commission took over the financial monitoring of approved providers. They are also setting new financial and prudential standards under the new Aged Care Act. To find out more about these changes, go to prudential standards on their website.
Aged care providers must complete mandatory reporting to receive Australian Government operational approval and funding. Financial reporting is used to monitor and analyse the sector’s financial performance. We also publish the data in the Financial Report on the Australian Aged Care Sector and the Quarterly Financial Snapshot.