An independent review has found LiveCorp is valued and appreciated by its members, and its performance over the past four years is commendable, especially given the number of inquiries, reports and reviews it has needed to respond to.
As a rural research and development corporation, the review is a condition of the funding agreement which allows LiveCorp to receive levies from the livestock export industry.
The LiveCorp Performance Review 2016-2020, released yesterday, shows the company is managed effectively, provides value for money, consults widely with its members, and has complied with all its obligations.
LiveCorp Chair Troy Setter says the board has accepted the four recommendations made, and an implementation plan is being drafted in response.
"The company has been proactive in the period covered by the report, recognising areas where members have concerns and initiating internal reviews. This includes board operations and the research program. Implementing those recommendations has helped to ensure our systems are working, and has contributed to the positive outcome of the current review," Mr Setter said.
"We recognise that there is always more to be done, however, and our Strategic Plan 2025 sets out some ambitious targets to continue progressing key issues for LiveCorp and the industry."
The performance review notes the complexity of the environment in which LiveCorp operates, its relatively limited resources as the smallest RDC, and its partnership with Meat & Livestock Australia, which manages the jointly funded Livestock Export Program (LEP) research and in-market activities.
Mr Setter says the LEP provides an important benefit for LiveCorp's members, by leveraging investment of producer levies and matching Commonwealth funds for relevant RD&E.
"The LEP has attracted some criticism from exporters in the past, and this has been reflected through consultation feeding into the performance review. However, the consultant also recognises that LiveCorp has invested time and resources in recent years to address those concerns," he said.
"Work is well underway in implementing recommendations of the LEP RD&E Program review, including the release of the RD&E Blueprint to guide investment, and the appointment of an independent chair for the Livestock Export Research and Development Advisory Committee and the Management Committee.
LiveCorp has produced a summary of the performance review, which is available on its website along with the full report (livecorp.com.au).
