ACC deficit $12.3 billion under last year's rules

Thu, 03 Dec 2020

If ACC had prepared its 2020 accounts on the same basis as last year, its net deficit for the year ended June would have been $12.3 billion.But a change in government policy reduced the reported deficit by $6.4 billion to $5.95 billion, down from the deficit of $8.66 billion ACC reported for the 2019 financial year.Page 56 of this year's annual report outlines the change in policy, which it said: "aimed to improve accountability and transparency by reflecting the true cost of accidents."The key change was the removal of the risk m...

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